What is the time limit for investing in the new asset?

Ans.   To claim exemption under s​ection 54F, the taxpayer should purchase another house within a period of one year before or two years after the date of transfer of old house or should construct another house within a period of three years from the date of transfer.

If the net consideration is deposited in a capital gain account scheme by the due date for the return of income, the assessee must purchase or construct a residential house within 2 or 3 years after the date of transfer of the original asset respectively.