My query is can an assesse claim sec 54 exemption only if he transfers capital gains to Capital Gains Account scheme? What if he utilized the amount for purchase of house property from his savings account itself before the due date of filing IT return?
Thanks in advance!
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Sec 54 Capital gain Account Scheme
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Quick Summary
Yes. In that case also exemption can be claimed.
purchase / construction of house property is the condition to avail exemption u/s 54
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