TaxTMI 
TaxTMI 
TaxTMI 
My Client has long term capital gain in FY 2023-24 Rs 4500000 & FY 2024-25 Rs 1000000 against sale of Land. He purchased a residential house in FY 2024-25 Rs 7045000. He claimed exemption U/s. 54F in FY 2023-24 Rs 4500000. Can he avail of exemption U/s. 54F in FY 2024-25 on Rs 1000000?
Capital Gain Exemption U/s 54F
Jaykumar Pokharna
Taxpayer Successfully Claims Section 54F Exemption on Long-Term Capital Gains from Land Sale by Investing in Residential Property A taxpayer sold land and realized long-term capital gains of Rs. 4,500,000 in FY 2023-24 and Rs. 1,000,000 in FY 2024-25. They purchased a residential house for Rs. 7,045,000 in FY 2024-25. The legal analysis confirms that the taxpayer can claim exemption under Section 54F for both capital gains, as the investment meets statutory time limits and conditions for tax exemption. (AI Summary)