EXEMPTION ON CAPITAL GAIN UNDER SECTION 54F
This query is : Resolved
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sameer joshi
(Querist)
29 January 2025
If I sell a plot, can I use the capital gains amount to pay off the home loan on an existing house and get an exemption under Section 54F of the Income Tax Act, 1961?
30 January 2025
When was the house purchased?
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sameer joshi
(Querist)
30 January 2025
Sir it was purchased in the F.y 2020-21.
Nikhil Kaushik
(Expert)
30 January 2025
no. repayment of home loan would not get you deduction in this case.
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