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of <h1>New Capital Gains Tax Rules: Section 54F Limits Exemption to Rs. 10 Crores for Investments from AY 2024-25</h1> Under section 54F, the exemption from capital gains tax is contingent on the investment of net consideration from the sale of an original asset into a new residential property or a Capital Gains Account Scheme. If the entire net consideration is invested, the full capital gain is exempt. If only part of the consideration is invested, the exemption is proportional to the investment, calculated using the formula A x B/C. The total investment in the new house and the Capital Gains Account cannot exceed Rs. 10 crores, a limit introduced by the Finance Act, 2023, effective from the assessment year 2024-25.
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