1.Suppose i havesold a land and capital gain has arised, inorder to get exemption from capital gain tax i will have to acquire or construct a residence.
2.my father has gifted me a piece of land and i think to construct a residence at the same gifted plot.
my question is whether contruction on gifted plot will exempt me from capital gain tax.
YES, YOU COULD TAKE EXEMPTION U/S 54F.
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