<s>[INST] What is the maximum amount of exemption allowed under section 54? [/INST] ​​​The maximum amount of exemption allowed under s​ection 54 will be lower of the following:

​Amount of long-term capital gains; or
Rs. 10 crores[1]
Aggregate of the amount invested in new house property and amount deposited in capital gain account scheme.
If the total amount invested in the new house property and the amount deposited in the Capital Gain Account Scheme exceeds Rs. 10 crores, the threshold limit will be adjusted first with the amount invested in the new house property. If the investment in the new house property is less than Rs. 10 crores, the remaining balance will be considered to be from the Capital Gain Account Scheme.

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[1] Inserted by the Finance Act, 2023 with effect from assessment year 2024-25. Earlier, the exemption was allowed without any threshold limit.​ </s>