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Exemptions u/s 54 on sale of property

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(Querist)
28 January 2025 Dear Sirs : One of my clients purchased a plot of land three months ago for Rs.300 (example) and now selling the same at Rs.760. Can he claim exemption u/s 54 if he invest whole sales proceeds of Rs.760 in new residential property..... If answer is NO than how can he save income tax. Kindly advise... Regards
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Nabin Agarwal

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Nabin Agarwal (Expert)
29 January 2025 Yes if the profit earned in invested in a new house property then you are eligible for deduction u/s 54. u can also refer https://cleartax.in/s/section-54-capital-gains-exemption
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PARDEEP KAPIL

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PARDEEP KAPIL (Querist)
29 January 2025 Sir : The gap between PURCHASE and SALE is THREE MONTHS ONLY.... Please let me know that is section 54 applicable in short term capital gain as well ? Regards
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
30 January 2025 No deduction available for short term capital gain.
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