23 May 2014
Sec 54 allows deduction from the tax on long term capital gains earned from residential property while Sec 54F covers assets other than this. In both Sec 54 & Sec 54F, the exempted property cannot be sold within three years of acquisition else the taxability on gains will arise with respective section clauses. Both these sections are available to property investors for claiming long term capital gains tax exemptions only.
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