Investment in Residential house by Taking Housing Loan
This query is : Resolved
06 December 2022
Sir one of our client has purchased a Flat for Rs 38 Lacs by taking loan of Rs 30 Lacs on 05/08/2022. He has sold commercial property on 01/12/2022 for Rs 75 Lacs, He has only one house in his name at present . my query is :
Will the purchase of Flat be allowed as deduction U/s 54F will it be Rs 8 Lacs or Rs 38 Lacs.
Will the purchase of Flat be allowed as deduction U/s 54F will it be Rs 8 Lacs or Rs 38 Lacs.
06 December 2022
Rs. 38 lakh exemption eligible out of total sale proceeds of Rs. 75 lakhs.
06 December 2022
Thanks for your quick reply
06 December 2022
You are welcome ..
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