Capital gains

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ravikanth (Querist)
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08 September 2015 My client has sold a vacant site on 21/03/2014 for Rs.15.00 lakhs. He has purchased one Residencial House Property on 09/03/2013 for Rs.13.00 lakhs before the sale of land. Can he claim exemption u/s 54F of Capital Gains purchase of House Property before one year.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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08 September 2015 As he has purchased residential house property within one year before the sale of land he can claim u/s 54F provided he does not own a residential house property other than the new one purchased in his name as on the date of transfer.

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