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Capital gain

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(Querist)
26 April 2019 I want to use the Amount Received from old house sale for repayment of loan taken for new house purchse.
I want to know that can I avail exemption U/S 54 of IT act.for Capital Gain arise from sale of old house. All Transaction are done with in time limit of Sec 54.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 April 2019 Yes you can use the capital gains for repayment of loan if the new house purchased is eligible for sec.54 exemption.

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