capital gain exemption u/s 54

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Prakash (Querist)
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09 July 2009 During the year 07-08 I had sold one property, for claiming exemption u/s.54 i have purchase new property/construct a house (or) I have deposit into capital gain scheme.
In my case, before filing my returns i had purchase a new house with out pay the sale consideration at the time of new house registeration. I'll pay the same after 2 months later( after the due date).
Shall i claim the exemption u/s 54.

Thanks & Regards,
Prakash.M

Ratan Sharma

Ratan Sharma (Expert)
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09 July 2009 Hi,
It is important to purchase the residential house within the time allowed may be by borrowed fund or your own fund. You can take the benefit u/s. 54.