Capital gains exemption limited to one residential house in India, restricting eligible investment for relief from specified transfers. Amendment to section 54F conditions the capital gains exemption on investment in purchase or construction of one residential house in India. The timing rules remain: purchase within one year before or two years after transfer, or construction within three years after transfer, and the exempt portion is proportionate to the cost of the new asset to the net consideration. The amendment is effective from 1 April 2015 and applies to assessment year 2015 16 onwards.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital gains exemption limited to one residential house in India, restricting eligible investment for relief from specified transfers.
Amendment to section 54F conditions the capital gains exemption on investment in purchase or construction of one residential house in India. The timing rules remain: purchase within one year before or two years after transfer, or construction within three years after transfer, and the exempt portion is proportionate to the cost of the new asset to the net consideration. The amendment is effective from 1 April 2015 and applies to assessment year 2015 16 onwards.
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