Dear Friends,
As you know, in order to avail exemption u/s 54F, the consideration from the transfer of the long-term capital asset is to be invested to purchase a residential house within 1 year before or 2 years after the date of transfer.
In my case, I booked a flat on 24/01/2018 and took possession on 21/03/2021.
In January 2021, I sold a capital asset with a long-term capital gain.
Please let me know whether I can avail exemption on the above capital gain u/s 54F as I invested the total sale proceeds in the new house.
Thanks in advance.
Jerry
CAclubindia
