Applicability of S. 54F of Income Tax Act - LTCG planning

Nupu (wwww) (28 Points)

06 December 2021  

1. On 18-Dec-2021 - Mr. Anand bought a residential flat with consideration amount - Rs. 60 lakhs. This is his first flat / residential house.

2. From 1-April-2021 to 15-Dec-2021 - Mr. Anand has sold multiple equity Shares of different companies on different occasions and he incurred Long Term Capital Gains

3. From 1-April-2021 to 15-Dec-2021 - Mr. Anand has made a capital gains of Rs. 17 Lakhs. (total sale consideration is 52 Lakhs)

As per applicable LTCG tax - Rs. 1,70,000/- should be submitted as LTCG Tax.

WHETHER Mr. Anand can take the benefit of section 54F as it talk about purchase of residential house before one year also ?