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Sec - 54(F)

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(Querist)
31 July 2020 One of my Client sold Plot in the month of April,2018 and Immediately got prepared L.T.C gain FDR from the bank for the entire sale proceeds. Now, he intents to purchase Residential house by 30 Sept,2020. Kindly confirm the benefit U/s 54(F) in view of extended time limit is available till 30 Sept,2020. Since my specific query is that the Capital gain relates to Assessment year 2019-20 whereas and the Assessment year for investment Purpose is mentioned as 2020-21 in the revised date extension schedule.
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
09 August 2020 No problem there is a time limit for investment and it need not have to be invested in the same year.
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