Capital gain

The transferor assessee should purchase or a residential house  within a period of one year before or two years from the date of transfer or construct a residential house within three years from the date of the transfer of the original house. (Construction must be completed within these 3 years.), and

The new house property purchased or constructed has not been transferred within a period of three years from the date of purchase or construction.

For more detail in Capital Gain tax follow the link provided..

/articles/capital-gain-tax-simplified-18623.asp

regards,

Completion of construction within 3 years is important but if there arises a problem which is beyond the control of the individual, the same can be presented to the ITO and the ITO may give some consideration.

Originally posted by : Aryan Singhania (Pallav)
	The transferor assessee should purchase or a residential house  within a period of one year before or two years from the date of transfer or construct a residential house within three years from the date of the transfer of the original house. (Construction must be completed within these 3 years.), and   The new house property purchased or constructed has not been transferred within a period of three years from the date of purchase or construction.   For more detail in Capital Gain tax follow the link provided.. /articles/capital-gain-tax-simplified-18623.asp regards,

I also agree with reply of Aryan Singhania......