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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2013 I have LTCG after selling my flat in February13. Can I get tax exption u/s 54 if I purchase 2 properties? If it is restricted to one property Can I get exemption for 75% of LTCG u/s 54(one property) & 25% LTCG 54EC(bonds)?

In anticipation of deal I purchased a new flat in Novermer 12 with housing loan. In the new property agreement and loan agreement is my son's name is first and mine is joint 3rd. 28% of flat value paid by son, 2% by me & 70% loan. Loan amount is disbursed to builder. My questions are a)) With my name 3rd can I get exempption under 54. b)Can I repay 70% value of housing loan from LTCG & get exemption? c)Will there be any restrictions on eligibilty as my name is 3rd?
Which date is considered for time limits? date of signing agreement/ date of registration/ date of possesion?

18 June 2013 r/sir

property profit earned by you
then investment also in your name.
joint name exemption if you prove that investment made by you .

only one property investment in allowed u/s 54. you can purchase house in two year from tfr date or one year before tfr. date.


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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2013 Can I repay disbursed housing loan from my LTCG deposit account?This will be 70% of new property valvue and also 0% of LTCG. Any limit like 1/3 my name being 3d?






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