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Capital gains

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13 July 2014 Dear Experts,
Mr. X owns a residential and a commercial property.
Now if he sells his commercial property and invests entire proceeds in purchasing a constructed residential house, will the capital gains be exempt?
Plz note Mr. X already owns a residential property and uses it for self.
Thanks
Pramod

14 July 2014 yes. you will get exemption under section 54f.



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