08 August 2012
Dear Sir, my query is relating to Sec.54 F of income tax act. My client has long term capital gain of Rs. 30 lakhs from sale of Gold, he has purchased a house 1 year before for Rs. 35 Lakhs by borrowing loan from bank of Rs. 25 lakhs. All the conditions of sec.54F are satisfied, I want to know what will be exemption he get?
CAclubindia
