Help for (l. t. c. g.)

vaibhav (student) (220 Points)

21 August 2012  
Dear all, my friend is selling house for 40 lakh. And under sc. 54 he is buying new one. So my questn is can he utilise 10 lakh remaing money and invest it acordng to his will? Or he need to invest the remaing money under other sec.like 54 ec?