If net consideration received from sale of listed equity shares and equity based mutual funds is fully invested in buying a residential house, is exemption under Section 54F available? Reason for this query is that capital gain on equity shares/ mutual funds attracts tax at a lower rate, so whether this exemption is extended to shares also?
Will it make any difference if seller of shares already owns a house bought by him/ her around 10 years ago? Will 54F exemption be available in that case? Thanks in advance for responses.
CAclubindia
