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FLYING HIGH ON EXEMPTIONS!

Can a taxpayer avail capital gains tax exemption by investing in more than one residential house?     Section 54 and 54F of the Income-tax Act provide for an exemption in respect of long term capital gains (LTCG), where subject to fulfillment of prescribed conditions, a taxpayer makes investment either in the purchase or construction of a residential house. In this context, let us take the case of a taxpayer who...

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