Exemption u/s 54

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....xemption u/s 54<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 2-8-2021 Last Reply Date:- 2-11-2021 Income Tax<br>Got 1 Reply<br>Income Tax<br>'A' sells a land for &#8377; 1,00,00,000....

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..../- during assessment year 20-21 and buyers a residential property immediately for RS 2,00,00,000/- claims exemptions U/S 54F. During assessment year 2021 -2022 he sells a residential property resultin....

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....g in capital gain of &#8377; 80,00,000/-. Can he claim exemption again for the same property purchased in assessment year 20-21 because it is within one year from date of sale of Second Property. Rep....

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....ly By CASusheel Gupta: The Reply: Yes, no bar on taking benefit under section 54 and 54F agaisnt same property CA Susheel Gupta 9811004443<br> Discussion Forum - Knowledge Sharing ....