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Capital gain

(Querist) 10 July 2013 This query is : Resolved 
I AM HAVING SELF OCCUPIED RESIDENTIAL FLAT AND HAVE SOLD DURING THE YEAR 2013 PLOT OF LAND WHICH WAS ACQUIRE IN 1988 AND THE SALE PROCEEDS INVESTED IN ANOTHER RESIDENTIAL UNIT WHETHER LT GAIN ON SALE OF PLOT IS EXEMPTED U/S 54F BEING REINVESTED IN RESIDENTIAL UNIT OR NOT
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Vineet (Expert) 10 December 2013
Exemption u/s 54F allowable provided you not buy any other residential flat during next three years.

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