Date of Sale of Flat - Jun 24
Invested Sale Proceeds in CG Account.
1) How much Time I have to Buy a NEW READY Flat?
2) How much Time I have to Buy a AN UNDER Construction Flat?
3) If I buy an Under Construction Flat in Feb-2026 and Invest the proceeds from CG Account, and IF the POSSESSION by Developer is expected in Dec-2027 -- is it Eligible for CG Tax Exemption?
Thanks
For a flat sold in June 2024, a ready property must be purchased by June 2026, while an under-construction property must be completed by June 2027. Merely booking or paying from the Capital Gains Account is not sufficient—timely possession/completion is critical. In your case, Dec 2027 possession exceeds the legal limit, making the exemption risky and likely disputable unless defended through litigation.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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