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LTCG on shares for deduction in second residential house

Shailesh (Manager) (37 Points)

25 October 2021  
Mr A and B jointly own one residential house. Now they jointly buy second residential house in the names of Mr B and A in FY 2021-22.

For the purchase of second residential house, Mr A and B sold shares and long term capital gain is earned. Is deduction for LTCG available? for both and under which section?
Thanks in advance!

 2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (108655 Points)
Replied 26 October 2021

Yes, both can claim deduction u/s. 54F of IT act.

Shailesh (Manager) (37 Points)
Replied 26 October 2021

Thanks a lot Sir!

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