Capital gain reinvestment deposit requirement: unutilised gains must be deposited under a notified scheme and charged if unused. The amendment requires that any capital gain not appropriated for purchase or construction of a new asset within the one-year pre-transfer period, or not utilised before filing the return, be deposited into an account under a Central Government notified scheme before furnishing the return; the deposited amount together with any amount already utilised is deemed the cost of the new asset. If the deposited funds are not utilised within three years from transfer, the unutilised portion is charged to income under section 45 in the year the three-year period expires, and may be withdrawn in accordance with the scheme; specific deductions under section 48(2) and applicability of section 53 are restricted where such charging occurs.