I sold a plot of land in sep 2011 and got capital garins of Rs 65 lakhs,
I had booked a residential house costing 45 lacs in Aug 2009 with bank financing.
I am likely to get posssession in March 2012 ,
By that time I would have paid to the builder necesary 45b lac. out of which around 30 lac by th Bank to which I am paying installments,
Will the amount of 45 lac will be exempted from my capital gains ?