Section 54F for purchase of house & its improvment

K. meharnath (prop) (141 Points)

09 June 2010  

Hi,

I have invested the 75% of the netconsideration due to sale of a capital asset other than a house, into buying a new house.  The remainign 25% of the net consideration I wish to utilise for repairs, extension and imporovement of the new house.  What amount of net consideration will I be eligible for exemption under section 54F of the income tax act.