Can long term capital gain from property sale be used to pay off home loan?

1. Possible, if the earlier property sold within one year of purchase of new property.

2. Yes allowed, exemption u/s. 54 & sec. 54f of IT act can be combined in single property purchased.

Thank you sir for your response. Regarding question 2 let me be more specific: 1st property 50 lakhs + 2nd property 1.3 Cr + 30 lakhs from shares =  purchase 1 single property - can you please confirm if that is possible.

If the purchased property is for 1.3 Crs; and if all the transactions are relevant to same assessment year, then yes it will be possible to take exemption in both.

But for sec. 54F exemption total sale consideration would be considered for exemption and not just LTCG.

Thank you sir. The new property value is higher than combined value of 2 old properties (50 L+ 1.3Cr) + shares.

Yes, you can claim exemptions u/s. 54 & sec. 54F of IT act simultaneously.

Thank you sir for clarification, appreciated.

You are welcome..