Double re-invest in house prop. andcapital gains a/c scheme

Roshan P (CA Final) (31 Points)

26 July 2017  

I had sold my House Property in June,2016 for 1Cr.

and there was Capital Gains of 40,00,000.

 

I Had already made Payment for a New House in Apr, 2016 for 44 lakhs (before Selling Old House)

and Deposited balance 56,00,000 (Out of Sale Procceds of 1Cr.)  in Capital Gains A/cs Scheme.

I was under the impression that the entire Sale Proceeds of Rs. 1 Cr. was to be Re-Invested.  

Now i realized that only Capital Gains of Rs. 40 lacs was required to be Re-invested.

 

 

So Now i want to know as to

1) How & where to Show the above (BOTH)  'Investments' and 'Deposits" in ITR ?

 2) How i can i Withdraw the amount of Rs.56,00,000 Deposited in 'Capital Gains A/c Scheme' ?

        Will the Receipt of Rs.44,00,000 given to me by the Builder be enough for withdrawal ?

        I have proof of entire Rs.44,00,000 being paid to Builder through my Bank Account.

      and also have the Copy of the Agreement to Sale entered in May,2016.