Long term capital gain

Yes, exemption u/s 54F can be availed, without any repayment of loan.......

No you are not eligible for claiming exemption under section 54f because the DDA Flat was purchased almost 2 years ago from the date of sale of the jewelry.

the act allows exemption in case the house was purchased one year before or 2 years after from the date of sale of jewellery.

Some experts have a view that since payment was made before one year exemption is not available. This is confusing.

54F. [1] Subject to the provisions of sub-section [4], where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential house [hereafter in this section referred to as the original asset], and the assessee has, *"within a period of one year before or two years after the date on which the transfer took place"* purchased, or has within a period of three years after that date constructed, one residential house in India....


The above extract from the Section 54F clearly indicates that benefit of the exemption is not available.