Net consideration
Regulation & taxThe full value received on a transfer, less the expenditure incurred wholly and exclusively in connection with it — the figure a section 54F exemption is measured against.
In plain terms
The whole sale value, not the gain. Reinvest only the gain into the house and the exemption is cut in proportion, which on a ₹80 lakh sale with a ₹60 lakh gain leaves a quarter of it taxable.