54f invested under construction flat

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subodh kumar Srivastava (Querist)
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24 July 2018 Sir, I have booked a flat in Nov 2013, agreement was done in Nov 2014, possession date was May 2017 but project is under construction still. A payment of Rs 900000/- was made in the month of Mar 2017 towards construction of said flat. Appox Rs 400000/- is still left towards regestry, maintenence etc for flat. Meanwhile, I sold a resedential land for Rs 1600000/- in Apr 2017 which is rising a long term capital gain of Rs 1270000/-.Can I get tax exemption on Rs 900000/- which was made in Mar 2017 towards construction of flat and if rest (capital gain - invested money) i.e. Rs 1270000/- minus Rs 900000 = Rs 370000/- invested in capital gain account scheme.
Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 July 2018 Rs. 9,00,000 can be claimed u/s 54F(1)
Rs. 7,00,000 can be claimed u/s 54F (4)
The above pattern is for zero tax liability on capital gains of Rs.12,70,000.