New Delhi, June 11 -- Property and asset sellers often obsess over calculating their tax liabilities while completely missing out on valuable relief measures under the Income Tax Act, 1961. Strategic reinvestment of these profits into designated assets within specific timelines can drastically lower or entirely wipe out your tax burden.

According to tax specialists, Sections 54, 54B, 54EC, and 54F represent the most effective pathways to claim these tax reliefs. Aside from Section 54B-which covers both short-term and long-term gains from agricultural plots-these benefits apply strictly to long-term capital gains (LTCG). Your eligibility hinges on the original asset sold, where you reinvest, and meeting strict deadlines.

The Pitfall of P...