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<h1>Taxpayer Must Meet Section 54F Deadlines for Home Purchase or Construction to Claim Exemption on Capital Gains</h1> To claim an exemption under Section 54F of the Income Tax Act, a taxpayer must purchase another house within one year before or two years after transferring the old house, or construct a new house within three years from the transfer date. If the net consideration is deposited in a capital gain account scheme by the income return due date, the taxpayer must purchase or construct a residential house within two or three years after the original asset's transfer date, respectively.