I had sold an apartment and deposited RS 30 lakhs in a capital gain account with a PSU bank. It is now almost 3 years I have been able to pay RS 20 lakhs out of this account to a builder towards a new apartment I had bought. Now this building is coming up slowly so may I use the balance for booking another new apartment so I don't get taxed on the Un utilised amount of th capital gain account. Can th capita gain account be used to fund 2 new apartments or should it be just one? After all, the gains get invested back into long term building asset only.
