02 October 2007
In case an individual sells his urban agricultural land and has capital gains, the same person also has a residential property and has bought another residential house a year ago. Can the second house bought a year ago be used to claim capital gain exemption?
03 October 2007
Sec. 54F is applicable if the investor doesn’t own more than one residential house, other than the new house, on the date when he earns long-term capital gains.
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