Capital Gains on Sale of Property Still Exempt u/s 54 if It is Used to Pay Installment of Flat/House Booked Earlier !

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Long term capital gains on sale of property is exempted from tax to the extent it is utilized to purchase another residential house within one year before or two years after the transfer of long term capital asset as per section 54 of the Income Tax Act. For construction of house , the time limit…

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