An urgent query u/s 54f

no you can not avail exemption within two years

My cross question is how you can claim exemption u/s 54 and u/s 54 F against sale of same capital asset.  .

Because exemp u/s 54- Long Term Capital Gain arising on sale of RHP,......but sec 54F specifically says that gain arsing on sale of long term asset but such long term asset should not be a Residential House.

So pls explain your case in detail .  

Thanks for the repl. here is the Detailed Explanation of my Query

For example I Sell Jewelry Worth of Rs. 10 Crs and Invest the net Consideration in Residential House Property (New Property)

Again within 2yrs I sold my existing (old one) Residential Property (Not which I Purchased Above u/d 54 F) and invested in another Residential Property (u/s 54)

Can I do the Above 

Dear friend if you are investing in Res,. HP u/s 54F then you will get exemption for the same.

But remember that lock in period of that invst u/s 54F is 3Yrs.So, if you ar now selling that RHP(as invest u/s 54F) you can claim exemption u/s 54...their is no  provision  denying  the same. But here your cost of that invst u/s 54F will be reduced because you have sold that invstd RHP u/s 54F before 3 yrs.

In short, for claiming exemption u/s 54 , you will loss the benefit of earlier cliamed exemp u/s 54F. 

Thanks for the repl but

I Am not Seeling the Property Purchased u/s 54F i hav another Residential property 

Sorry, right now no idea.

thanks alot anyway..!