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Section 54 exemption
I have taken a loan for the construction of new house. Also I sold a flat and earned capital gain on it. I invested the amount of capital gain in its construction. Will the interest on loan be available as exemption under section 54 ??
Replies (4)
Yes, provided the loan amount was utilized for the construction of the house property.
Yes Sir. The loan is taken for the purpose of construction of new house only.
But is there is any proof or any legitimate document available to prove this ?? If yes, then provide.
Yes Sir. The loan is taken for the purpose of construction of new house only.
But is there is any proof or any legitimate document available to prove this ?? If yes, then provide.
If the loan was through banking channel, you can even make MOU now, and pay the interest amount through cheque.
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