one client sale shop in 5 lakh after 4 years from the purchase date and invest in new plot can he take benefit of 54f plz guide.
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Quick Summary
This discussion explores whether a client who sold a shop for £5 lakh after four years and invested in a new plot can claim an exemption under Section 54F. The consensus is that simply purchasing a plot is insufficient. To be eligible, the client must construct a house property on the new plot, as the basic conditions for Section 54F are not met by the plot purchase alone.