Allthough I havent read about any such exemption under the Income Tax Act where capital gain from sale of a property is exempt merely because it is purchased in some scheme.
(Expert) 04 May 2010
Please provide complete details of the scheme. No exemption from capital gains tax is available unless the same is specifically provided under the Act or by some notification.
(Expert) 05 May 2010
The question is insufficient to answer.