Section 54F - Capital Gain on sale of LTCA not to be charged in case of investment in residential house

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... house property New assets to be purchased or constructed One residential house in India i.e. building & land appurtenant there to Time limit Purchase :- Within 1 year before or 2 years after the date of transfer; and Construction :- To be completed within 3 years after the date of transfer. New assets should be situated in India [ Leena J. Shah Vs. ACIT 2005 (11) TMI 386 - ITAT Ahmedabad ]....