I have sold a row house which was purchased in 1987-88 in 2013-14,and purchased another flat under construction in 2013-2014 out of its proceeds wherein some payments is to be made on being given possession during 2014-15 and have to pay for its registration and getting woodwork done thereafter.
Please clarify weather I can keep the balance of sale proceeds in my accounts SB/Fixed till 3 years or do I have to calculate and pay capital gains tax in this financial year itself. Thanks and regards.