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IT Section 54

The document outlines various exemptions related to the sale and purchase of residential and agricultural properties, as well as investments in specified bonds and assets. It specifies conditions such as time limits for investment and ownership restrictions for individuals and HUFs. Each section details the requirements for claiming exemptions under different sections of the Income Tax Act, including maximum investment limits and holding periods.

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christinafrancis1406
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24 views2 pages

IT Section 54

The document outlines various exemptions related to the sale and purchase of residential and agricultural properties, as well as investments in specified bonds and assets. It specifies conditions such as time limits for investment and ownership restrictions for individuals and HUFs. Each section details the requirements for claiming exemptions under different sections of the Income Tax Act, including maximum investment limits and holding periods.

Uploaded by

christinafrancis1406
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SEC APPLICA SALE OF PURCHASE TIME EXEMPTION C OTHER

BLE TO OF LIMIT AMOUNT G KEY


FOR A POINTS
INVESTM S
ENT

54 Individual Residential New Purchase: Investment in Y Maximum


/ HUF House Residential 1 year new house or e investme
(Long-Term House (in before or capital gain, s nt limit of
) India) 2 years whichever is ₹10 crore
after - lower (from AY
Constructi 2024-25)
on: within
3 years

54B Individual Agricultural Another Within 2 Investment in Y New land


/ HUF Land Agricultural years new e should
(used by Land agricultural s not be
assessee land or capital sold for 3
or parent gain, years
for 2 years) whichever is
lower

54D Any Land/ Land/ Within 3 Investment in Y Asset


Assessee Building Building for years new industrial e must be
used for industrial asset or s used for
industrial use capital gain, industrial
purposes whichever is purposes
(compulsor lower
y
acquisition)

54EC Any Land or Specified Within 6 Investment in N Bonds


Assessee Building Bonds (NHAI months bonds or O must be
(Long-Term / REC) capital gain, held for 5
) whichever is years
lower (subject
to ₹50 lakh
limit)

54 F Individual Any One Purchase: Capital Gain × Y Assessee


/ HUF Long-Term Residential 1 year (Cost of new e must not
Asset House (in before or house ÷ Net s own more
(not India) 2 years Sale than 1
residential after - Consideration house
house) Constructi ) (excludin
on: within g new
3 years one) on
date of
transfer.

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