Ltcg exemption via dual investment?

YES YOU CAN GET COMPLETE CAPITAL GAIN EXEMPTION

TIME PERIOD :The new property can be purchased either 1 year before the sale or 2 years after the sale of the property. The gains can also be invested in the construction of a property, but construction must be completed within three years from the date of sale.

Finding a suitable seller, arranging the requisite funds and getting the paperwork in place for a new property is one time consuming process. Fortunately, the Income Tax Department agrees with these limitations.

If capital gains have not been invested until the date of filing of return (usually 31st July) of the financial year in which the property is sold, the gains can be deposited in a PSU bank or other banks as per the Capital Gains Account Scheme, 1988. This deposit can then be claimed as an exemption from capital gains, and no tax has to be paid on it. However, if the money is not invested, the deposit shall be treated as short term capital gains in the year in which the specified period lapses.

BONDS: 

• You have six month’s time to invest the profit in these bonds, although to be able to claim this exemption, you will have to invest before the tax filing deadline.

Thanks for responding.

I am reminding to re-confirm ..... I am proposing to buy a flat lower in value than the capital gains accrued and investing only the difference in capital gains bonds within the 6 months' time frame mentioned above.

Am I in a straight line with the IT Act and Rules?

yes...........