Our Associate Prateek Sharma has written an article on “Long Term Capital Gains Exempt under Section 54 and 54F of the Income Tax Act, 1961. The article was published in Dainik Bhaskar.
In order to avail the exemption as per said sections, the taxpayer has to invest the specified amount in buying or constructing the house within the stipulated time. Though both Sections 54 and 54F provide an exemption from long-term capital gains but the conditions to be fulfilled in order to get the respective exemptions to have some differences. This article deals with some of the said differences.