Capital gains u/s 54f

Exemption can be claimed if the new property if purchased within 1 year prior to the sale and within 2 years after the sale. If investing in a residential property, the assessee must not have more than one residential property to avail exemption u/s 54F. 

Agreed with Mihir,, If you are "Purchasing" , then House you purchased "One year before" or Two years after are eligible for exemption under section 54F.

Refer point (C) section analysis Of section 54F on https://www.exploreincometax.com/Indian-Income-tax-Act-1961/Section-54F

in contn  with above 

1 what will be the case when res house is const

2 the ass off is of the view that  the date of purchase  of new flat shoud be taken ,( date given in the initial purcahaase deed) if that case ltcg exemt  u/s 54f wouls be disallowed

if completion date is taken it will be before2/3 year from the date of transfer of land

Within 3 years, the construction should be complete. But in few cases, the AO has allowed exemption where the construction is not complete but it is nearly habitable and the LTCG has already been utilised in the construction.

weather a new residential house (new Asset ) purchased to avail exemption of the long term capital gain u/s 54F can be let out within 3 years of its purchase. OR

a) can be let out?

b) can be it sold within 3 years of its purchase without losing the benefit of exemption is availed?

Please rply as soon as possible ....