Section 54F of the Income Tax Act, 1961, is a section that allows tax exemption on the long-term capital gains earned from selling a capital asset other than a house property. So, if you sell a capital asset like shares, bonds, jewelers, gold, etc. and reinvest the sale proceeds towards the purchase or construction of a house property, the returns earned on the sale of the capital asset would be allowed as an exemption from tax under Section 54F.
CA Rahul Agarwal
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