capital gain exemption

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  1. CA Jayakumar M G

    CA Jayakumar M G New Member

    During the financila year I sold ancestral property worh Rs 25 lakhs and with this money purchased a residential property. I have owned one residential propery before the purchase of the new one . Whether I can cliam exemtion u/s 54F
     
  2. you can claim.


    provided that
    the income from such residential house, other than the one residential house owned on the date of transfer of the original asset, is chargeable under the head "Income from house Property"
     
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