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Capital gain us 54

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(Querist)
27 December 2014 can i claim capital gain of on sale of plot us 54 if take residencial property?? pls guide
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
28 December 2014 Land alone can't be treated as residential property for the purpose of the section 54.
however you can claim exemption under section 54F of the said section, subject of fulfillment of certain conditions

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