Para 10 - Utilisation of the amount of withdrawal - Capital Gains Accounts Scheme, 1988

Utilisation of the amount of withdrawal. 10. (1) A depositor, withdrawing any amount out of the deposit made in pursuance of sub-section (2) of section 54 1 [ or sub-section (2) of section 54GB ] or sub-section (2) of section 54B or sub-section (2) of section 54D or sub-section (4) of section 54F or sub-section (2) of section 54G, shall utilise the whole or any part of the amount so withdrawn for the purposes specified in sub-section (1) of the section in relation to which the deposit has been made. (2) The amount withdrawn shall be utilised by the depositor within sixty days from the date of such withdrawal for the purposes specified in sub-paragraph (1) and the amount or any part thereof which has not been so utilised shall be re-deposited in account-A immediately thereafter. ---------------------- Notes:- 1. Inserted vide Notification No. 44/2012, dated 25/10/2012