exemption under section 54 allowable or NOt ???

CA Abhishek Singh (practice) (2106 Points)

19 February 2011  

hello everyone,

one of our client plans to sell one residential house property in mumbai and construct and house property on the land owned by his father at his native plance in bihar.

can he avail the exemption from capital gains tax.

please mention caution to be taken in this regard.

waiting for ur reply urgently

My email id abhipcc @ rediffmail.com