CGAS withdrawl and taxation rate under section 54F

Capital Gain (student) (1 Points)

24 April 2025  

Hello - Need help with respect to Section 54F :

Sold unlisted shares on Dec 1st, 2023 and deposited the money in CGAS account by July 31st, 2024 to utilise it under section 54F to buy some property. But now i don’t think i’ll be able to utilise it by Dec 1st, 2025. And neither I’m going to do any construction of house, so that is also ruled out. In between, govt has revised the LTCG taxation rate from 20% to 12.5%. Now questions are :

  • which rate of LTCG taxation will be applicable to me - the rate of FY 2023-24 or the rate of FY 2025-26 ?
  • which year surcharge and cess rates will be applicable?
  • And how much time typically AO takes to give approval to withdraw from CGAS account?

Thanks!!