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Capital gain

This query is : Resolved 
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(Querist)
27 September 2016 Dear Sir,
One of My friend sold his house proprty in the Month of March 2016 and He purchase a New house in the month of May 2016. in this Case Which year we can claim Capital Gain Exemption. Because Sale of house Property belongs to FY 2015-16 & purchase of House property blongs to FY 2016-17.
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Unnikrishnan B

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Unnikrishnan B (Expert)
27 September 2016 Yes section 54 deduction can be claimed as the house purchased within 2 years
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