Extension of Cap Gains Account beyond 3 years

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  1. Avadhesh Dahima

    Avadhesh Dahima New Member

    I have deposited captial gain arising out of Complusory Acqusition by the HMR metro Rail, I have invested the amount in the Captial Gain Account Schemeunder Section 54F for 3 years, and now would like to further continue with the Scheme. Can I continue ??

    What will be my Tax Implication- if I further Continue without Withdrawing the Amount as I still do no find any suitable options for Re-investments ???
  2. Karan Batra

    Karan Batra Well-Known Member

    No, you cannot extend the Cap Gains Account.

    You can only deposit in the cap gains account for a max period of 3 years.

    If you dont reinvest this amount in 3 years - the exemption which was allowed earlier will get reversed and will get taxed in the year in which the 3 years get completed.
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