Section 54F: Tax Exemption for Capital Gains Ends if No House is Built Within Three Years of Asset Transfer.

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....Exemption u/s 54F - Assessment Year in which the amount is taxable where the assessee had not constructed the house property within the period of 3 years - it will be charged to capital gain in the year in which the period of 3 years from the date of transfer of the original asset expires.....