Capital gain

1. You have two options to save your LTCG

      (i) Make a investment in any house property or deposit amount in capital gain deposit a/c so that it can be utilized in future to purchase or construct H.P.

the amount should be deposited in capital gain deposit a/c up to the due date specified u/s 139(1) i.e. 31 July, 2012 but it should be utilized to construct the property within a period of 3 years from the date of transfer of original H.P. or purchase a new house property within 2 years from the date of transfer of original house property. there is no restriction of no. of houses owned by assessee therefore you can hold more than one house at a time, the exemption u/s 54 can not be denied on that ground.

(ii) except the above you can invest the amount of LTCG in the bonds of NABARD, NHAI etc. within 6 months from the date of transfer of house property and claim exemption u/s 54EC. however in this case you have no option to deposit the sum in capital gain deposit account.

Note: you can claim both exemptions i.e. under section 54 and 54EC simultaneously