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Capital Gain Sec -54 Exemption appliacable on Sale of Land or Not

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(Querist)
12 July 2021 Is exemption u/s 54 applicable on sale of land (owned for residential purpose), will invest the money within one year in new residential property
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
12 July 2021 Section 54 is not applicable in case of sale of land. You may opt for exemption u/s 54F in this case.

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