| Particulars | 54 | 54F | Remarks |
| Applicability | 1. Individual 2. HUF | 1. Individual 2. HUF | - |
| Asset Sold | 1. House 2. Land or 3. Building Residential in nature. | Any Asset except Residential Property. | - |
| Condition | 1. The Value of the Capital Gain (CG) over Rs.10 Crores shall be ignored 2. Reinvestment cost of new assets above 10 Crores shall also be ignored. | 1. The value of the Asset Sold must not exceed Rs.10 Crores. 2. Reinvestment cost of new assets above 10 Crores shall also be ignored. | The holding period for assets to be categorized as long-term is 24 Months i.e. 2 years. Limit of 10 Cr. Applicable from 01-04-2024. |
| Special Provision | If CG <=2 Crores, Assessee the assessee can choose to invest in 2 residential properties within the given time frame. This option is available only once in a lifetime. | Investment is allowed only if the assessee owns no other residential property at the time of investment, except the new one. | |
| Reinvestment in | Residential Property in India | Only in 1 Residential Property in India |
| Period for Reinvestment | 1 Year Before or 2 Years After the date of Transfer or within 3 Years of Construction. | 1 Year Before or 2 Years After the date of Transfer or within 3 Years of Construction. |
| Deposit in Capital Gain A/c Scheme (CGAS) | If the amount is not utilized before : 1. 1 Year Before or 2. Till the due date U/s 139(1) of filing ITR | If the amount is not utilized before : 1. 1 Year Before or 2. Till the due date U/s 139(1) of filing ITR | In the case of 54F, Net Consideration is to be Deposited. & In the case of Section 54 Capital Gain is to be deposited. |
| Time limit for deposit in CGAS | Latest by the due date of filing the ITR U/s 139(1) | Latest by the due date of filing the ITR U/s 139(1) | - |
| Deposit limit in CGAS expires | Capital Gain Earlier Exempted Shall be taxable in the PY in which the deposit expires. | Capital Gain Earlier Exempted Shall be taxable in the PY in which the deposit expires. | - |
| Amount of Capital Gain (CG) Exemption | Lower of: 1. Capital Gains or 2. Cost of New Assets | If: 1. The cost of a New Asset is More than Net Consideration = Whole of Capital gain 2. Cost of New Asset Less than Net Consideration = (Cost of new Asset /Net Consideration) * Total Capital Gain | Tax Rates: Long term: Before 23-07-2024: 20% + Indexation Benefit On or After 23-07-2024: 12.5% , NO Indexation Benefit Short Term: As per Slab Rates |
| Cost of new Asset for exemption | Amount Spent + Deposit in CGAS | Amount Spent + Deposit in CGAS | - |
| Lock in Period | 3 Years | 3 Years |
| Sold/bought during Lock-in | The cost of the Acquisition of the new Asset shall be treated as: 1. NIL or 2. Reduced by CG value As the case may be. | Capital Gain Earlier Exempted Shall be taxable in PY in which Asset is sold/bought. | This applies to the Selling of new assets, earlier invested in for Section 54 and In the case of 54F, it applies to both selling and buying of new assets. |
| Period of expiry to be counted from | The date of Transfer of the original asset | The date of Transfer of the original asset | 54H: If a property is the subject matter of compulsory acquisition and the compensation is not received by the assessee on the date of transfer, all applicable time limits will be calculated from the date the compensation is received. |
| Definitions | - | Net Consideration: means the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively in connection with such transfer. |
