Investment - u/s 54f

mahavishnu (Proprietor) (107 Points)

31 January 2018  

An NRI Sold open plot for Rs. 6crores after deduction of TDS u/s 195 the assessee wants to avil exemption u/s 54F by investing the amount received on sale. The question is u/s 54F entire net consideration is to be invested for aviling exemption though the assessee is prepated to invest the entire consideration of Rs. crores for evaling exemption he does not have that much monry as he received only Rs.4.64 crores after TDS which is a considerable amount..

In this situation what is the remedy/ recourse available to the assessee for aviling entire amount received for exemption u/s 54F?