Capital gain. fd

A client sold a residential property for £37 lakhs and deposited the funds into a Fixed Deposit (FD) for 45 days, repeating this twice. The total transaction period was within 12 months before purchasing a new house for £40 lakhs. The query is whether this qualifies for capital gains exemption under Section 54. The advice suggests it might be allowed if the sale and purchase occurred within the same financial year or before the tax return filing deadline, provided the capital gain was declared and the exemption was claimed appropriately.