If Mr. x has Ltcg of 7lakh and sale proceeds of 15lakh,
He invests all the sale proceeds in a residential PLOT
1) Is he eligible for 54F?
2) If he is unable to construct a house due to lack of funds, then what are the consequences?
Thankyou
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54F Plot query
Replies (2)
1. No, unless HP constructed.
2. Tax liability over LTCG.
Exemption available.
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