EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F

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eddanapudi murali

eddanapudi murali

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21 August 2026 Sir, One of my clients, have given a plot for development on 12-10-2021 and he got two flats allotted to him against the plot given for development. The 2 flats alloted to him got occupancy certificate from municipality on 30-9-2024. He had forgotten to tell the information while filing his ITR for 2024-25 FY. In 2025-26 FY he has sold one flat and one is kept for him self. As on the date of getting occupancy certificate he has one house only. Can he claim the exemption under section 54F on one flat and offer LTCG on the sold flat in ITR for 2025-26 FY or He has to revise his ITR already filed 2024-25 FY , by claiming exemption on one flat kept for him under Sec.54F and pay tax on LTCG on sold flat . Please kindly give your expert advice to the above questions.

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