Capital gain exemption u/s 54
This query is : Resolved
14 July 2012
Hello Sir,
I want to ask a ques.i.e.If somebody purchased a residential house three years before the sale of another residential house but the repayment of last loan installment is before one year of sale of residential house.In this case whether he'll get the exemption u/s 54 or not.
Please friends support your answer with the source.
I want to ask a ques.i.e.If somebody purchased a residential house three years before the sale of another residential house but the repayment of last loan installment is before one year of sale of residential house.In this case whether he'll get the exemption u/s 54 or not.
Please friends support your answer with the source.
14 July 2012
Section 54 does not apply upon the repayment of final installment.
If house has been purchased within a year of transfer of any residential house, then exemption u/s 54 may be claimed.
.
If house has been purchased within a year of transfer of any residential house, then exemption u/s 54 may be claimed.
.
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