https://www.taxtmi.com/acts?id=47058 Where capital gain is not utilised for purchase or construction of a new asset before filing the return, the assessee must deposit the unutilised amount in a specified bank or institution under a Central Government notified scheme by the return due date, with proof of deposit; the amount already utilised together with the deposit is deemed to be the cost of the new asset. If deposited funds are not utilised within the three year period, the unutilised portion is chargeable as income when that period expires and may be withdrawn under the scheme, and the initial deduction of ten thousand rupees shall not be admissible. en-us Tue, 07 Jan 2025 12:17:54 +0530 Tue, 07 Jan 2025 12:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47058 Where capital gain is not utilised for purchase or construction of a new asset before filing the return, the assessee must deposit the unutilised amount in a specified bank or institution under a Central Government notified scheme by the return due date, with proof of deposit; the amount already utilised together with the deposit is deemed to be the cost of the new asset. If deposited funds are not utilised within the three year period, the unutilised portion is chargeable as income when that period expires and may be withdrawn under the scheme, and the initial deduction of ten thousand rupees shall not be admissible. Act-Rules F. Acts / Amendment Acts Tue, 07 Jan 2025 12:17:54 +0530 https://www.taxtmi.com/acts?id=47058