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Exemption u/s 54f

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 December 2011 Dear All,

I have a doubt of 54F exemption. If i have purchased a residential house from my own fund and within one year of purchase, i have sold a land(purchased before 3 years).Can i claim 54F exemption? Kindly give case laws also( if any)
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
12 December 2011 yes,you can claim the deduction u/s 54F, as you have purchased the residential house not earlier than 1 year from the date of transfer of land.

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