Capital gains
This query is : Resolved
MANJUNATHA
(Querist)
31 January 2018
Sir
I am going to be sold residential site in next month. Can I use sale proceeds to close the existing Housing loan?
I am going to be sold residential site in next month. Can I use sale proceeds to close the existing Housing loan?
31 January 2018
Yes, you may, but it won't entitle you to any benefit or exemption from tax thereon.
For claiming exemption, you may consider investing in NHAI/RECL bonds or acquiring/constructing a residential house property.
For claiming exemption, you may consider investing in NHAI/RECL bonds or acquiring/constructing a residential house property.
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