Capital Gain Tax Exemption U/S.54 F

JERRY JOHN (62 Points)

22 October 2021  

Dear Friends,

Please clarify whether the same money from the sale of land has to be used for making investments in house property to avail exemption u/s 54F.  In this case, he paid all money for the purchase of the house property from his own savings.  Later, he sold a commercial property with a capital gain of Rs.32 lakh.  Can he avail exemption from capital gain tax?

Regards,

Jerry