banner_ad

Capital gain tax exemption on sale of property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 July 2024 Dear Sir,

If a person wants to sell his property and use the sale proceeds in pre-payment of an existing home loan then will he get capital gain exemption on the property he sold.

Please help me in this matter.

Regards,
Divyesh Jain
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
23 July 2024 Sec 54 or 54F mandates purchase of any HP within specified time period, subject to conditions specified in respective sub sections. If those conditions are satisfied, the assessee can claim the exemption. Just repaying loan without any purchase of HP doesn't qualify the conditions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details