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Section 54F - Income TaxExtract A owns One residential house and One site. A sells the house on 19/04/2021 and to off sets the Capital Gain by investing the required amount in another residential house on 30/6/2021 ( section 54 ). On the 15/6/2021 he sold the site and purchased another residential house on 30/12/2021 ( section 54F ) As per provisio to section 54F (1) , exemption available under that section will be denied if assesse invests in additional residential house with in one year after sale of site. The word used is Additional . In this case the ( section 54 ), new house was purchased first. Whether this house will fall with the meaning of Additional house even though bought before the purchases of second house ( section 54F ).
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