Section 54 - Capital Gain on transfer of Residential Property.

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..... tructed One Residential House Property in India ( in case Capital gain exceeds ₹ 2 crore) Two Residential House Property in India ( in case Capital gain does not exceeds ₹ 2 crore) Time limit Purchase : Within 1 year before or 2 years after the date of transfer; and Construction : To be completed within 3 years after the date of transfer. Capital Gain Deposit Scheme Available, to be de .....

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..... assessee i.e. Individual or HUF, May at his option Purchase Two Residential House in India with in 1 year before 2 year after the date of transfer or Constructed Two Residential House in India within a period of 3 year after the date of transfer where the cost of new asset exceeds ₹10 crore, the amount exceeding ₹10 crore shall not be taken into account for the purposes of section 54(2 .....

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