I used the capital gains from sale of stocks in FY 22-23 for constructing my house. This is my first property. I missed claiming tax exemption on the amount I spent on construction in ITR for FY2023. Can I revise the ITR and claim exemption under 54F? I will book more capital gains this fiscal year and utilise them for construction of the same house. Can I claim exemption under 54F in the next assessment year also?
It has been assumed that you had earned long-term capital gain (LTCG) on sale of stocks (original asset) in fiscal 2023 and invested it in one residential house in India (new asset) which is still under construction.