I have purchased a flat from the builder through an agreement to purchase. The payments are made as per the stage of construction. I haven't received possession of the flat within two years and I haven't registered a sale deed for purchase of new flat/house from builder. Am I eligible for exemption?

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• I have sold my residential house and invested the entire proceeds in purchase of a new house from a builder for which an agreement to sale is registered. However, the builder has not given possession of the flat. Am I eligible for benefits?

  Yes. The key condition is utilization of sale proceeds for investment in a new residential house. If you could demonstrate that the delayed possession is beyond your control and you have paid substantial amounts to the builder, you are eligible for ...

• What is the time limit for purchase of a new residential house from the time of sale of original house?

  In order to be eligible for the benefit under this section the NEW house must be purchased within a period of ONE year BEFORE or TWO years AFTER the sale of original asset.

• What is the time limit for construction of a new residential house from the time of sale of original house?

  In order to be eligible for the benefit under this section the NEW house must be constructed within a period of THREE years AFTER the sale of original asset.

• What will be the tax treatment if I sell the new property within three years of its purchase?

  If the new property is sold within three years from the date of acquisition the, for calculating the capital gains, the cost of acquisition of this new property will be reduced by the amount of capital gain on which the exemption was claimed earlier. ...

• What is the time limit for investing the capital gains on sold residential property in a new property?

  For claiming exemption u/s54, the capital gains arising from sale of old property must be invested in: Purchase of another residential property within one year before or two years after the transfer of the old property. Construction on a residential ...