Section 54EC of the Income Tax Act offers a capital gain exemption opportunity to taxpayers who are divesting their long-term capital assets, such as land, buildings, or both.

When an individual decides to sell an immovable property or land, it becomes essential to report the resulting income or loss as Capital Gains in their Income Tax Return.

To alleviate the burden of Capital Gains Tax stemming from the sale of a residential property, taxpayers can seek solace in Section 54GB of the Income Tax Act. T