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Rajiv Gupta (Others)     24 August 2021

Applicability of 54F

I have 2 residential properties as under

1. Inherited share from fathers house 12.5%. Rest share to other family members

2. Inherited share from deceased wife 50%. Balance 50% with mother-in-law (she purchased the house but sale deed doesn't mention it)

Qustion. I have sold a residential plot and have substantial capital gains. Can I use the net proceeds to buy a house to claim exemption under  Section 54F?



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