capital gains
This query is : Resolved
13 March 2009
the capital gains arising on sale of residential house property are exempt u/s 54 if the amount is invested within one year before and two year after the date of transfer. If the repayment of loan (taken for purchasing a house property) has been done with the amount of cap gains, will exemption be there ?
13 March 2009
Yes, logically the loan amount was invested in the property & hence the exemption should be allowed.
13 March 2009
I too feel Exemption is available provided, however, repayment of Home Loan is for a house purchased within a period of one year before the transfer
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