Benefit of section 54 and repayment of home loan
This query is : Resolved
27 June 2011
Can LTCG arising out of sale of residential house be utilised in repayment of outstanding home loan taken for acquiring a property more than 3 years ago to get benefit of section 54? Will the position be different if house (on which loan is outstanding) was acquired with in last 1 year?
27 June 2011
from LTCG there is no such provision to pay outstanding,
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