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Section 54 Deduction: No Need to Use Capital Gains for New House Purchase if Investment Exceeds Gains.

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Full Text of the Document

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....Deduction claimed u/s 54 - There being no pre–condition u/s 54(1) providing for investment of the long term capital gain in purchase of new house for claiming deduction u/s 54 - If other or borrowed fund is used then also deduction is allowable as investment is more than capital gain.....

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