https://www.taxtmi.com/manuals?id=3442 Exemption under section 54 is withdrawn where deposits in the capital gains account scheme are not used to acquire or construct the residential house within the prescribed period, causing the unutilised deposit to be treated as deemed long term capital gain in the year the time limit expires; and where the replacement residential property is transferred within the relevant holding period, the amount of capital gain earlier claimed as exempt is deducted from the cost of acquisition of that replacement property for computing capital gain on its transfer. en-us Fri, 08 Dec 2023 14:18:00 +0530 Fri, 08 Dec 2023 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3442 Exemption under section 54 is withdrawn where deposits in the capital gains account scheme are not used to acquire or construct the residential house within the prescribed period, causing the unutilised deposit to be treated as deemed long term capital gain in the year the time limit expires; and where the replacement residential property is transferred within the relevant holding period, the amount of capital gain earlier claimed as exempt is deducted from the cost of acquisition of that replacement property for computing capital gain on its transfer. Manuals Income Tax Fri, 08 Dec 2023 14:18:00 +0530 https://www.taxtmi.com/manuals?id=3442