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Section 54F of Income tax Act Exemption

Tax queries 260 views 2 replies

A person having 300 sqyds of land sold 100sqyds at ₹1.5cr and sold another 200 sqyds for ₹2.5cr seperately within the year then invested ₹3cr in investment how to claim exemption and what are the conditions for claiming exemption

Replies (2)
There is no exemption on sale of land utilize it purchasing house property or form a pvt ltd. co. for investment in house property.

Can we claim exemption U/s 54F by completing an incomplete house which was purchased earlier and it is the only property he has.


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