What if i square off LTCL against sale of residential plot. while filing ITR (by showing equal amount of receipt & purchase amount of said residential plot).
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LTCG exemption under section 54f on transfer of multiple plots
Yes, you can deposit 7 Crs, in CGAS, 1988 to claim exemption u/s. 54F by investment in any single residential property.
The loss in residential property will reduce the LTCG by 10 lakhs. It will not add total sale consideration.
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