Capital gains tax saving

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Dear experts,

I had incurred capital gains on March 1 2011 through sale of a property. I had bought bonds to get exemption. Additionally, I had kept some money in capital gains account so that I could use it to buy or construct a residential property.

Unfortunately, I could not find a suitable property to buy so far. But now I think I have found one. But as luck has it its just past 2 years on March 1 2013. Sir, is there any way I can buy this property and claim exemption. Its only 3 or 4 days more than the 2 year limit. Please advise what I can do to save some money.

Replies (1)

Decide whether you want to buy or construct a residential house property.

Buy within the period of 2 years after the date of transfer or construct within the period of 3 years after the date of transfer.

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