capital gains

Dear Jugal,

For claiming exemption one has to buy residential house though it is not necessary that assessee has to actually reside in that house, i mean it can be left vacant or can be given on rent ............but commercial property is not eligible...........  

Dear Jugal.....

54 - This exemption can be claimed only when the assessee transfers the Res. house and pur / const a Res. house......... it is not necessary that assessee has to reside in that house, but commercial property not possible and not eligible...........