Whether investment site qualify for exemption u/s 54 & 54f without constructing any residential house with in three year from the date of transfer?
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Exemption u/s 54&54f
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Exemption under both these sections is allowable only if the investment is made in a residential property. Else no exemption is available. So in your case no exmeption is available, However if land is purchased and construction is made on that land then only purchase of land qualifies for exemption.
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