Long term capital gains

R.SRINIVASAN (Chartered Accountant) (30 Points)

27 March 2014  

Under Sections 54 and 54F the investment in new residential propert is to be made within 1 year before and 2 years after the sale in the case of purchase or  within 3 years after in the case of construction. My query is - in the case of a flat under construction can investment be made before 1 year of sale and completion of construction be after 3 years of sale?