if an assesse sell one plot of rs.250000, and purchase residential plot of rs.300000/- then please tell me planning to save tax?
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income tax query
Replies (2)
nil
If its a long term capital gain, he is eligible to claim exemption u/s 54F as the total amount gets invested provided, he should construct a house on it within 2 years from the date of capital gain. Plot of Land for residential purpose is also eligible for exemption u/s 54F.
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