CA Rahul Agarwal
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How to save tax with New Home?
Section 54F of the Income Tax Act 1961 provides an exemption from long-term capital gains tax on selling any capital asset other than a residential property. This means that if you sell a long-term capital asset like shares, stocks, bonds, gold, etc., and reinvest the sale proceeds in a new residential property within a specified timeframe, you can claim an exemption on the capital gains arising from the sale.
