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LTCG on shares & purchase of new house

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(Querist)
30 June 2024 Dear Sir / Madam,
My query is as follows:
Mr A sold equity shares of listed companies and earned Long term capital gain of Rs. 275,000/- (Sales value Rs. 15 lakhs). He purchased a residential house property in the same year for Rs 50 lakhs.

Instead of claiming exemption of long term capital gain upto Rs. 1 lakh, Can he claim exemption of entire long term capital gain of Rs. 275,000/- by showing u/s 54F the investment of sales proceeds of equity shares of Rs. 15 lakhs in the purchase of new house property?

Kindly guide.
Thanking You,
Suraj
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
30 June 2024 Yes eligible, as the investment in HP is more than 15 lakhs.
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Suraj

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Suraj (Querist)
01 July 2024 Thank You Rambhia sir......
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 July 2024 You are welcome.
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