Exemotion under section 54
This query is : Resolved
CA Mohit Goyal
(Querist)
29 November 2011
If, An assessee purchased a housing loan via bank finance and repaid the housing loan out of sale of another house, whether amount repaid to bank can be allowed as deduction under section 54 from the LTCG on sale of house on the basis that the first house was acquired within one year before the date of transfer.
Kindly suggest....
Kindly suggest....
CA Hardik Bunha
(Expert)
29 November 2011
Yes,,,,defenately eligible for 54
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