Capital Gain Exemption u/s 54F

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shyam d bhanushali (Querist)
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28 July 2016 I sold my residential property and invested capital gain of rs.10,00,000/- in another under construction residential property in AY 2013-14. Now I sold my another long term capital asset(commercial premises) in March-2016. So my question is can I get capital gain exemption in AY 2016-17 u/s 54F by investing capital gain amount in the same already purchased under construction property in AY 2013-14.

Amol S Joglekar

Amol S Joglekar (Expert)
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29 July 2016 it is one year before or 2 years after.......does your case fit into that one year before criterion? If yes....then you may claim that portion of amount which is not claimed for exemption in earlier transaction of sale of residential property.
(Prima facie, it looks that you are NOT satisfying the condition of 1 year before.....)

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