Section 54 Deduction: No Need to Use Sale Proceeds for New Home Purchase, LTCG Deduction Granted.

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Full Text of the Document

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....Deduction u/s 54 - LTCG - purchase of new residential house - no provision is made by the statue that the assessee should utilize the amount which he obtained by way of sale consideration for the purpose of meeting the cost of the new asset. - Deduction allowed.....