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?