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Exemption u/s 54 - Income TaxExtract A sells a land for ₹ 1,00,00,000/- during assessment year 20-21 and buyers a residential property immediately for RS 2,00,00,000/- claims exemptions U/S 54F . During assessment year 2021 -2022 he sells a residential property resulting in capital gain of ₹ 80,00,000/-. Can he claim exemption again for the same property purchased in assessment year 20-21 because it is within one year from date of sale of Second Property.
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