section 54F

yes exemption can b claimed by selling Gold..... exemptn u/s 54F can b claimed by selling ANY "CAPITAL ASSET" n buying a residential house wid d sale conderatn....

for d meaning of residential house,etc refer House property Head....

i hope u r satisfied...

plot is an integral part for construction of house...so deductn will b allowed...

as per circular no. 667, dated 18-10-1993 exemptn u/s 54f is allowd....

@ Raunak Chawla  i need more clarification :::  

it is written in section 54F that  " Income from Such property shall be chargeable under head Income from house property "   

"section 22 provides that definition of house property as any building or land appurtenant to building  is house property "     and only plot cannot generate income from property .....hence plot cannot be be house property  or residential property .

and section 54F provides "condition" that Income of such residential property should be charged under head " Income of house property "