Taxability of Real Estate transactions

Conditions for section 54F
• Assessee should not own more than one
residential house other than the new asset
on the date of transfer of the original asset
• Should not purchase/ construct any other
residential house within two years / three
years respectively of the transfer of the
original asset
• New asset not to be transferred before
three years from the date of its purchase/
construction, in case transferred LTCG
exempted earlier to be taxed in the year of
sale