Capital gain tax exemption on sale of property
This query is : Resolved
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
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
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- TDS related Query_Liquidated Damages
- What is provisional receipt number for generation of form 16A
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
