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Capital Gains Reinvestment

Income Tax - Started By: - Srinivasan Krishnan - Dated:- 27-11-2016 Last Replied Date:- 4-12-2016 - Dear Forum MembersI need advice on a .I sold a Plot in Feb 2014, the capital gains of ₹ 45 Lakhs is parked in a Capital Gains account Scheme in an authorized bank. I need to reinvest by Feb 8, 2017 in an residential house (not an apartment as the 2 year time period has expired for buying an apartment)It is now almost 2 years 10 months since I sold my plot. The query I have isCan I buy a buil .....

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f it is not possible you may invest in the bank deposit as authorized by the Central Government for the purpose of capital gains. - Reply By Ganeshan Kalyani - The Reply = In my view the querist has invested in the capital gain fund scheme which means the complaince is met. - Reply By Srinivasan Krishnan - The Reply = Thank you for your comments. I have a few queries1) Should I only buy a plot and construct or can I also buy an old residential house within 3 years, given that I am now in 34th mo .....

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s on interestYour advice will be appreciatedThanks & regardsP S Krishnan - Reply By Srinivasan Krishnan - The Reply = Thank you for your comments. This has helped me decide the next course of action. I have decided not to buy a property and construct, instead i will pay tax on the capital gainsI had sold a property in Feb 2014, and I invested the capital gains in an capital gains account on 31 July 2014 with the objective of buying a housing plot and constructing a house. But on account of c .....

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