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benefit for capital gain

This query is : Resolved 
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(Querist)
10 September 2010 Dear sir

can capital gain expm.u/s54f may be cantinued after sale of the residential house within one month of filing return for ass.year2010-11.

Thanks.
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
11 September 2010 No, in this case earlier claimed exemption will be taxable as LTCG in that year, in which that new residential house property sold.

Regards!!!
Dinesh S. Adhikari
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NITIN SHARMA

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NITIN SHARMA (Expert)
12 September 2010 NO AS PER SECTION 54F NEW HOUSE PROPERTY
CAN NOT BE TRANSFERRED BEFORE 3 YEARS.IF THE ASET GET TRANSFERRED THAN THE PREVIOUS CAPITAL GAIN WILL BE CHARGED TO BE TAXED IN THAT P/Y IN WHIGH THAT ASSETS IS TRANSFERRED.
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