exemption from the capital gains

Dear Vasanth,

Exemptions from capital gains are available in cases of Long term Capital Asset.

For a property to become Long Term Capital asset, the period of holding should exceed 3 years.

Dear sir,

The property should be held for a period exceeding three years for it to be treated as long-term capital gains. If so held and if the gain is treated as long term, you can claim exemption by reinvesting either under Section 54 or Section 54EC.

Regards

K.Ilayaraja.