Exemption u/s - 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 August 2018
Hello freinds...
Hi have 2 house old one and new one purchased 9 month ago Which is finance by bank of baroda housing loan,
My query is i want to sell my old house(purchase 10 year back) and want to utilised sale proceeds to repay the Housing loan
Will i get exemption u/s section 54 as im utilising the amount of capital gain arising from sale proceeds of residential property for acquaring new house property
Hi have 2 house old one and new one purchased 9 month ago Which is finance by bank of baroda housing loan,
My query is i want to sell my old house(purchase 10 year back) and want to utilised sale proceeds to repay the Housing loan
Will i get exemption u/s section 54 as im utilising the amount of capital gain arising from sale proceeds of residential property for acquaring new house property
29 August 2018
Yes you will get exemption u/s 54 as new house purchase is within one year before sale.
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