This discussion explores claiming Long Term Capital Gains (LTCG) exemption under Section 54F when selling multiple industrial plots to purchase a single residential property. It clarifies that exemption is possible and delves into the complexities of combining Section 54EC and 54F exemptions, including calculating investment amounts based on net consideration and capital gains. The conversation also touches upon whether home loan interest can be claimed as a cost of improvement and the relevant dates for calculating the holding period for properties purchased via instalment plans.
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).