Hello,
I would like to know if am allowed to claim the exemption on the following transaction :-
1. I Bought a Flat on Oct 2014. It was under contruction and will get completed by June 2017. I am paying money in Installement and i have booking letter and Sale and construction Agreeemnts
2. I sold a flat in June 2015. I made capital gain on 15 Lacs Rs.
Can show the this gain as reinvestment done under residential property for paying next installment as it is bought withing one year before the sale of the flat ? I am asking this because this still under construction and i hope i am allowed to claim exemption in such cases.
Please help.
Regards,
CAclubindia
