Capital Gains Account Scheme
Regulation & taxAlso called: CGAS
A specified bank account into which the unutilised part of a gain must be deposited before the due date for filing the return, to keep a reinvestment exemption alive until the purchase or construction is completed.
In plain terms
The deadline is for getting the money in, not for spending it. Buying the house comfortably inside the two-year window does not rescue a deposit that was never made, and money left visibly untouched in a savings account or a fixed deposit is not a deposit under the scheme.