 "How you can sell multiple long-term assets and also claim tax deductions")
When an individual is taking the benefit under Section 54F of the Income-Tax (I-T) Act, he can sell multiple long-term assets and also claim tax deductions in more than one Assessment Year (AY), depending on when the assets were sold.
The Delhi Bench of I-T Appellate Tribunal (ITAT) recently held that a taxpayer cannot be denied the benefit only because he sold multiple assets in different financial years, while meeting other conditions mentioned in the law.
Section 54F allows taxpayers to sell long-term capital assets, other than a house property, and use the proceeds to buy a new house to
