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Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2013 If an assessee has sold a residential plot and invested the sale proceeds in another residential plot, then whether the assessee can claim deduction u/s 54??? and Is it necessary to construct the purchased residential plot within 3 years?????

Urgent so pls reply as soon as possible.
Thanks in advance

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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14 February 2013 Yes, It is necessary to construct a residential house within 3 years from the date of sale of plot to avail deduction U/s 54F ( not under Section 54) .

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