Amendment of section 54F

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Full Text of the Document

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....ction 54F of the Income-tax Act relating to capital gain on transfer of certain capital assets not to be charged in case of investment in residential house. The existing provisions contained in sub-section (1) of section 54F provide that where capital gain arises from transfer of a long-term capital asset, not being a residential house, and the assessee within a period of one year before or two ....