Ltcg on sale of a flat

Deepak Walia (Not Applicable) (133 Points)

24 November 2016  
Dear Sir, I have booked an under construction flat in August 2013 with proper agreement letter and payment duly mentioned in my registry. The possession and registry took place in May. 2015. Now I have decided to sell this flat. Can I be exempted from the tax in terms of LTCG if I buy another ready to move flat within a year or so! Thanks