Exemption for capital gains if reinvested in one residential house within the prescribed time under Section 54F. Section 54F provides an exemption from capital gains tax where long-term capital gains arise from the transfer of a long-term capital asset other than a residential house, provided the taxpayer reinvests the gain in one residential house property in India within the prescribed time limit; the exemption hinges on the asset being non-residential, reinvestment in a single residential property, and compliance with the statutory time limits.