Capital Gain Exemption 54F

In calculation of deduction under section 54F whether actual sale consideration will be considered for net sale consideration or 50 C will you will be considered

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  Claim u/s 54F of the Income Tax Act, 1961

The assessee during the year under consideration sold unlisted shares on 16.06.2017 taxable as LTCG and claimed the deduction u/s 54F of the Act on account of amount invested in Residential House Property As per department the assessee is ineligible to claim deduction u/s 54F of the Act as he owned two residential house property, apart from the new residential property. Assessee has executed registered agreement for assignment of the flat owned by him on 05.04.2017. The assessee has received more than 97% of the consideration as on 30.04.2017 and accordingly gave the possession of the said flat. Affidavit of…

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