Section 54F Tax Implications

It implies, that you are not allowed to buy any another house property within 1 year (or construct any within 3 years) from the date of the purchase of the new asset (over which you claimed the deduction).

Hi

you mentioned that you already have one residential property and wants to utilize stock LTCG for buying another Residential property.

yes u/s 54 F you can buy another residential property and claim the exemption of Stock LTCG. subject to that you will not sell the second house for next 3 year from date of purchase of second house. 

what does this mean "Provided that nothing contained in this sub-section shall apply where the assessee owns on the date of the transfer of the original asset, or purchases, within the period of one year after such date, or constructs, within the period of three years after such date, any residential house, the income from which is chargeable under the head "Income from house property", other than the new asset"

Does it mean that I can claim benefit only when I am using the existing property of self use or can I claim benefits even when the current house is let-out.

Secondly, what is considered the date of purchase, the various options are i) day of booking, ii) day of allotment, iii) day of agreement for sale, iv) day of handover or possession or v) day of registrations?

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