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capital gain exemption u/s 54

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(Querist)
09 July 2009 During the year 07-08 I had sold one property, for claiming exemption u/s.54 i have purchase new property/construct a house (or) I have deposit into capital gain scheme.
In my case, before filing my returns i had purchase a new house with out pay the sale consideration at the time of new house registeration. I'll pay the same after 2 months later( after the due date).
Shall i claim the exemption u/s 54.

Thanks & Regards,
Prakash.M
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Ratan Sharma

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Ratan Sharma (Expert)
09 July 2009 Hi,
It is important to purchase the residential house within the time allowed may be by borrowed fund or your own fund. You can take the benefit u/s. 54.
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