54F

Dear Urvi,

Exemption cannot exceed the amount of taxable income, hence Exemption will be of Rs. 1 Crore only.

I culdn't understand what u r trying to say..plz clarify

balance amount of 1 crore cannot be claimed in aby subsequent years

Look, the first property u sold for 1Cr., so if there's any profit from that sale...

Then, the amount of exemption will be lowest of profit earned or the amount invested in new property....

So, 2 crores is obviously not possible