SECTION 54 EXEMPTION FOR CAPITAL GAINS ARISING ON TRANSFER ...

In this case the old house was transferred in April, 2021, hence, any house purchased within a period of 1 year before 25th April, 2021 thi.e. on or after 26 April, 2020 can qualify for exemption under section 54. Hence, house purchased in December, 2020 will qualify for exemption under section 54. Illustration ................
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