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Capital gains exemption u/s.54f

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(Querist)
01 July 2015 Hello Sir / Mam,

Whether can we claim exemption u/s. 54F for the same property in 2 consecutive AY's?

In FY 2013 - 14, One has sold a Long Term Capital Asset (Other than a Res. HP) and on the said date he does not own any Res. HP, but has booked a flat 2 years back which is under construction and is making payments therefrom. Now if he makes payments for the Property which is under Construction, whether he can claim deduction u/s. 54F for AY 14-15 for the amount paid towards property?

In FY 2014 - 15, he has again sold a Long Term Capital Asset(Other than Res. HP) and have made payments to the property which is under construction. Can he again claim exemption u/s. 54F for the same property again in AY 15-16?

Thanks in Advance.
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
01 July 2015 Yes, he can claim exemption u/s 54F.
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