Скачать или смотреть Zero capital gain Tax on property sale ? Capital Gain Account Scheme

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If you don't buy a home within 2 years after selling the original asset, you'll need to deposit the unutilized amount in the Capital Gain Account Scheme (CGAS) before the expiry of 2 years from the date of sale.

Here are the consequences if you don't buy a home within 2 years:

1. *Deposit in CGAS*: You'll need to deposit the unutilized amount in the CGAS to avoid tax implications.
2. *Interest on deposit*: The deposited amount will earn interest, which will be taxable.
3. *Utilization within 3 years*: You'll need to utilize the deposited amount for purchasing or constructing a residential house within 3 years from the date of deposit.
4. *Tax implications*: If you fail to utilize the deposited amount within 3 years, the unutilized amount will be taxable as long-term capital gains.

To avoid tax implications, it's essential to deposit the unutilized amount in the CGAS and utilize it for purchasing or constructing a residential house within the specified time limit. Consult with a financial advisor to ensure compliance with tax laws.