No, purchasing a residential property outside of India does not qualify for the exemption. The exemption is specifically tied to the purchase or construction of a residential property within India to avail of the tax benefits. Therefore, if the proceeds from the sale of a property are invested in a residential property located outside of India, the taxpayer would not be eligible for the exemption under the Income Tax Act.
Is the exemption applicable if the residential property is purchased outside of India?
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