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Exemption from long term capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2011 Hi,

1. Mr. X (member of HUF) sold a land (personal Property) at long term capital gain

2. Mr. X is investing the above proceeds in a Residential apartment constructed by HUF in which Mr. X is a member.

3. Now can Mr.X claim exemption?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
22 December 2011 There is no problem if proceeds of sale are invested with property construted by related party if the conditions mentioned in section 54F are satisfied.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2011 thank u:)))
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