Tax implication on flat alloted by builder to assessee

On the allotment of 4 flats to assessee the sale consideration would be 60 Lakhs The cost of theplot of land has to worked as under:

Cost = 200000 x (total no of flats -4)/total no of flats

( Since the consideration is for transferring the land for the other flats)

This can be indexed using theIndex for 1991-92 and 2014-15 i.e Cost * 1024/199

Capital Gains would be 80 lakhs - Indexed Cost.

54F exemption can be claimed treating the cost of one flat as investement in residential house. make sure this is NOT the flat that is sold in June

As regards the sale in June 2015, 20 lakhs- 15 lakhs would be short term capital gains.

Rajagopalakrishnan Sir, 

One more thing that,

What would be the Tax implication at the time of flat were delivered and flats are not sold.

I need your reply.

Rajagopalakrishnan Sir,

A small doubt

how can he claim u/s 54F

condition of not to

purchase any residential house, other than the new asset(he has got 3 other too), within a period of one year after the date of transfer of the original asset; 

Thanks in advance