Ltcg exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 March 2014
I have sold a residential land for 42.5 Lakhs and 4 months ago i have purchased a flat for 20 lakhs for which i have taken housing loan... whether this purchase will be allowed for exemption under sectn 54F????
10 March 2014
The condition in Section 54F is that the assessee has to invest the sale proceeds in a residential house property.
There is NO condition that the investment CANNOT be made by taking a loan.
So you are eligible for deduction u/s 54F.
There is NO condition that the investment CANNOT be made by taking a loan.
So you are eligible for deduction u/s 54F.
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