Section 54f proceeds of residential house property

There is no difference in "Residential House" and "residential House property". and hence on sale of residential house property, the assessee cannot get the benefit of Sec 54F.

Mr. Rajat, one may be wiiling to avoid the tax liability inaccordance with the provisions of Income Tax and thus want to get the benefit of all such sections which may be relevant for him.

For eg, in case of sale of listed securities, the assessee can take the benefit of Sec 54ED and Sec 54F to the extent possible for the assessee.

section 54 is much more beneficial than section 54 F.

I think no person will like to claim benefit of 54 f instead of 54

and it is clearely mentioned under law section 54 f will not be applicalble if assest transferred is long term residencial property, and we can not change the law.

agree with the point,if one deduction is available,why look for another provision 

Respected Learnt Experts,

Actually recently I was going through a case study CIT, Rohtak Vs. Shri Jagtar Singh Chawla

In this case the assessee has got the benefit of Section 54F even after selling a residential house property. That is why I was wondering how is this possible?

If I am reading it correctly,the case relates to grant of exemption after due date of return date. The assessee has sold two assets in the case,one is agricultural land and the other is residential house for Rs.2,16,00,000/- and Rs.8,25,000/- respectively. And he is claiming exemption for Rs.76,85,829 for purchase of residential house.I think sale of agricultural land covers the cost of house hence exemption u.s 54f was given. correct me if I am wrong