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Income tax on capital gain

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(Querist)
27 February 2012 If we sell a residential property and purchase a commercial property than can we still claim the exemption u/s 54, if yes than tell me how?
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
27 February 2012 Exemption is allowed only when reinvestment is made in residential house only.. for purchase of commercial property.. no exemption is available..
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