Section 54 54F

Yes, if both properties sold in same financial year.....

thanks please clearfy further in case:
In April first property sold indexed LTCG 50L
In September same FY property bought for 90L all inclusive
In March same FY second property sold indexed LTCG 40L
In above example since transactions carried out in same FY are we allowed to adjust capital gain I mean to say can we sell second property after we buy?

Yes, if property purchased for 90L in september was ready/constructed house property in India.

Secondly, note that u/s. 54F the sell proceeds invested in house property is considered for Cap Gain exemption, and not just Long Term Capital Gains.

For example if first plot was sold for 1.00 Cr (though LTCG reduced to 50L), your investment in house property should be 1.00 Cr or more for exemption of total LTCG, u/s. 54F.

thanks®ards

My Pleasure.........

Sir please help
Funds parked in capital gain account fully utilized to purchase new properly is there any need to disclose the same in IT
if yes
how & where?
thanks