https://www.taxtmi.com/forum/issue?id=3603 Exemption for capital gains on sale of a residence requires reinvestment in acquisition or construction of a new residence; interior fit outs that are capitalised to the building can be included as qualifying expenditure. Only amounts actually invested in the new residence within the statutory three year period from the date of transfer qualify for the exemption. Amounts deposited in the Capital Gains Account Scheme are withdrawable after the relevant period or on completion, and interest earned in that account is taxable. en-us Sun, 27 Nov 2011 14:42:56 +0530 Thu, 23 Jan 2025 15:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3603 Exemption for capital gains on sale of a residence requires reinvestment in acquisition or construction of a new residence; interior fit outs that are capitalised to the building can be included as qualifying expenditure. Only amounts actually invested in the new residence within the statutory three year period from the date of transfer qualify for the exemption. Amounts deposited in the Capital Gains Account Scheme are withdrawable after the relevant period or on completion, and interest earned in that account is taxable. Discussion-Forum Income Tax Sun, 27 Nov 2011 14:42:56 +0530 https://www.taxtmi.com/forum/issue?id=3603