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Claiming exemption from capital gains under section 54f

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(Querist)
23 August 2016 Please guide whether exemption from capital gain u/s 54F is available ?

Asset sold - Urban Land
Sale transfer deed date - 07.05.2016
Sale consideration received in advance on various dates as under:
12.08.2014 - 5,80,000
02.09.2014 - 7,00,000
02.03.2015 - 17,70,400

Asset purchased - Residential House
Purchase transfer date - 10.03.2015
Purchase consideration paid as under:
28.02.2015 - 19,00,000
10.03.2015 - 5,53,000

Kindly guide regarding which dates to be considered for exemption conditions under section 54F i.e. sale and purchase transfer document date or advances received and paid for sale and purchase of assets respectively ?
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 August 2016 you can take the dates of deed as the transfer dates.
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CA Aagam Shah

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CA Aagam Shah (Querist)
23 August 2016 Please guide what actually is permissible in section. Which dates are to be considered for claiming exemption under section 54F .
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 August 2016 Date of TRANSFER....... to be considered.
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CA Aagam Shah

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CA Aagam Shah (Querist)
24 August 2016 Thank you Sir.
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 August 2016 you are most welcome.
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