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1. • Capital Gains

     • Under Section 54 of the Income Tax Act, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in purchase or construction of residential property.
     cleartax.in/s/section-54-capital-gains-exemption

     Section 54 of Income Tax Act - Capital Gains Exemption on ...

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   What is Section 54 of the Income Tax Act?

   • Section 54 of the Income Tax Act: Unlocking Capital Gains Exemption Benefits. Learn how you can save on taxes by leveraging the provisions of Section 54.

   Section 54 of the Income Tax Act: Capital Gains Exemption - Tax2win

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   How does section 54 provide relief from capital gains tax?

   • In order to provide relief from capital gain tax, the Income Tax Act provides various deductions and exemptions. One such exemption is Section 54. Under Section 54 of the Income Tax Act, if the seller of a residential property acquires or constructs another residential property from that amount, he or she gets benefits from capital gains tax.

   Section 54 of the Income Tax Act: Capital Gains Exemption - Tax2win

   tax2win.in/guide/section-54-of-income-tax-act

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   What is the section 54 exemption?

   • The Section 54 Exemption under the Income Tax Act, 1961, offers a valuable opportunity for individuals to save on capital gains when transferring residential property.

   Section 54 Exemption for Capital Gains on Residential Property Transfer

   taxguru.in/income-tax/section-54-exemption-capital-gains-residential-property-transfer.html

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   Are capital gains taxable under Section 54 of the Income Tax Act?

   • The exemption amount following the deduction under Section 54 of the Income Tax Act will be applicable to either the long-term capital gains from selling a property or the amount invested in purchasing a new one, whichever is lower. The balance amount remaining (if any) in the second case will be taxable under this act. Illustration

   Section 54 of Income Tax Act: Exemptions, Deductions & How to Claim

   www.godigit.com/income-tax/section-54-of-income-tax-act

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3. cleartax.in › s › section-54-capital-gains-exemptionSection 54 of Income Tax Act - Capital Gains Exemption on ...

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   4 days ago · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in purchase or construction of residential property.

   • Cost of Acquisition: 40,00,000.00

   • Particulars: Amt (Rs)

4. incometaxindia.gov.in › pages › actsTax Laws & Rules > Acts > Income-tax Act, 1961

   incometaxindia.gov.in › pages › acts

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   Section - 110. Determination of tax where total income includes income on which no tax is payable. Section - 115VF. Tonnage income. Section - 14A. Expenditure incurred in relation to income not includible in total income. Section - 115BBI. Specified income of certain institutions. Section - 4.

5. tax2win.in › guide › section-54-of-income-tax-actSection 54 of the Income Tax Act: Capital Gains Exemption ...

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   Jun 28, 2024 · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential house property can claim exemption from such capital gains if they invest the proceeds in the acquisition, i.e., purchase or construction, of another residential property.

6. taxguru.in › income-tax › exemption-capital-gainExemption under capital Gain: Section 54, 54B, 54D ... - Tax Guru

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   Apr 3, 2024 · Sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA offer various benefits to individuals and entities. This article delves into the specifics of each section, including eligible assets, time limits for acquisition, exemption amounts, lock-in periods, and applicable deposit schemes.

7. taxguru.in › income-tax › capital-gains-exemptionCapital Gains Exemption on Sale of Residential House under ...

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   4 days ago · Conclusion: Section 54 of the Income Tax Act provides significant relief to taxpayers by exempting capital gains from the sale of a residential house, provided the gains are reinvested in another residential property. By understanding and fulfilling the necessary conditions, eligible assessees can optimize their tax liabilities effectively.

8. taxguru.in › income-tax › section-54-exemptionSection 54 Exemption for Capital Gains on Residential ...

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   Nov 3, 2023 · The Section 54 Exemption under the Income Tax Act, 1961, offers a valuable opportunity for individuals to save on capital gains when transferring residential property. This comprehensive guide provides insights into the basic conditions for eligibility, the amount of exemption available, and the potential consequences if the new house is ...

9. www.godigit.com › section-54-of-income-tax-actSection 54 of Income Tax Act: Exemptions, Deductions & How to ...

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   What Is Section 54 of the Income Tax Act? The process of selling or transferring a capital asset like property comes with taxable capital gains. However, the Government makes it easier for the citizens under Section 54 of the Income Tax Act.