Capitol gain savings account

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  1. SAMIR KUMAR SAMANTA

    SAMIR KUMAR SAMANTA New Member

    Please let me know if the sale proceeding from the sale of different landed property at different time can be deposited in the Capitol gain account opened after the sale of first property , and benefit of not paying capital gain tax can be claimed if with the proceeding I construct a house within 3 years time of the scaling of 1st property.
    S.K.Samanta
     
  2. ZED

    ZED Well-Known Member

    Please provide more detail alongwith the dates.
     
  3. SAMIR KUMAR SAMANTA

    SAMIR KUMAR SAMANTA New Member

    I sold one land on 4/05/2013. And opened one capital gain savings account on 4/05/2013 and deposited the sale amount. Then I sold another land on 21/08/2014 and deposited the amount on 21/08/2014 in the same account. Later I sold another land on 03/03/2015 and the sale amount deposited in the same capital gain account. From 15/10/2013 I started paying the installment amount to our housing co-operatve of 8 members for construction of our Co-operative Flat . As on 05/05/2016 all the amount from the Capital gain savings account has been withdrawn and given to Co-operative account . Except the interest credited to my account. Flat is yet to complete. By the end of 2016 it will be completed. Now advice me whether I would get full benefit of Capital gain tax savings and the account can be closed.
    S.K.Samanta
     
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