Capital gain
This query is : Resolved
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.
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.
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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