Section 54
This query is : Resolved
18 September 2012
IF THE HOUSE (B)IS PURCHASED FOR RS. 65,00,000 WITH HOUSING LOAN OF RS. 25,00,000 WITH IN ONE YEAR BEFORE THE SALE OF ANOTHER HOUSE (A).
WHETHER 65,00,000 IS ELIGIBLE FOR SECTION 54 OR ONLY 40,00,000 IS ELIGIBLE (COST LESS BANK LOAN)
WHETHER 65,00,000 IS ELIGIBLE FOR SECTION 54 OR ONLY 40,00,000 IS ELIGIBLE (COST LESS BANK LOAN)
18 September 2012
6500000 will be allowed for the purpose of sec 54.
Assessee needn't adjust the bank loan for consdering the investment in a house property u/s 54
Assessee needn't adjust the bank loan for consdering the investment in a house property u/s 54
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