You can claim exemption under section 54F if all the following conditions are satisfied:
1) You have earned a long term capital gain.
2) You have sold an asset other than a residential house.
3) You have made an investment in buying or constructing a residential house.
4) You have purchased the house within one year before the sale of asset on which long term gain has arisen, or
you have purchased the house within two years after the sale of asset on which long term gain has arisen, or
you have constructed the house property within 3 years from the date of transfer of original asset,
5) You do not own any residential house at the time of purchase or construction of a new house.
Exemption under section 54F, Tax filing, Income tax return We have explained the condition of 54F exemption claim.
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