Capital gain

This query is : Resolved

JYOTI HODAWADEKAR (Querist)
Follow

30 November 2011 what is the tax impact under capital gain tax if land (non-agricultural)is sold and sale proceeds are used for repayment of outstanding housing loan dues taken towards acquisition of flat.
whether taxable or any exemption u/s 54?
Please clarify..

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

30 November 2011 I think 54 exemption not possible because it available to purchase any house property but not for repayment of hosing loan.
I am not sure above my answer please wait for other experts decision.
OM SAI SRI SAI JAI JAI SAI

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shameem ahmed

T.N.Reddy

6380177036

Amit Bhatkar

sachingurav

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Accountant

GST CONSULTANCY

Article Assistant

GST CONSULTANT