54f for repairs

Hi everyone,

can I get exemption of 54 F on capital gain used for repairs of my residential house property ? please advise
Replies (2)
Quick Summary
This discussion clarifies whether capital gains tax exemption under Section 54F can be used for repairs to a residential property. The consensus is that Section 54F specifically requires the purchase or construction of a new residential property within a set timeframe, rather than using the funds for repairs on an existing one.

No you can't as section 54F required purchase of immovable property or construction of immovable property

section states that

Where the assessee purchases, within the period of two years after the date of the transfer of the original asset, or constructs, within the period of three years after such date, any residential house, the income from which is chargeable under the head "Income from house property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45
Subjectvto one clause improvement of building

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