YES.
There is no such restriction u/s. 54 of IT act...
Exemption u/s. 54 can be availed only by purchase/construction of a residential house property, within stipulated time period.
Just land purchase, would not be eligible for deduction, unless house property is constructed over it within 3 years.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
