Pl clarify the following :

I have booked a residential property in Aug 2010 and paying emi regularly. Possession is likely to be offered in may 2012. And registry will be done at that time. As on date, there is only a Flat Buyer Agreement.

Exemption from long term capital gains tax is available when the amount is invested in  residential property if the person does not have a residential property in his/her name.

Will I , in view of para 1 above, will be elilgible for the exemtion if invest in a residential property?

Thankjs

Great Sir,

You can do that  cz for calcuation of long term capital gain possession is considerable.

right now you have not any property in your own name then you can avail the Long term exemption of one residential house under section 54/ 54F