(2)If the capital gains referred to in sub-section (1) is not utilised by the assessee to purchase the new asset before filing the return of income under section 263, then––(a)the unutilised amount shall be deposited in a specified bank or institution and utilised as per the scheme notified by the Central Government;(b)such deposit shall be made before the filing of the return and not later than the due date applicable in the case of the assessee for filing the return of income under section 263(1); and(c)the proof of deposit shall be submitted along with such return.
