If an individual has a Capital gain of Rs. 10 Crs from sale of shares and he purcahse new property worth 10 Crores paying Rs. 2 Crores from self and balance Rs. 8 Crs from bank finance. Can he claim the exemption for Rs. 2 Crs. of full 10 Crs?
If an individual has a Capital gain of Rs. 10 Crs from sale of shares and he purcahse new property worth 10 Crores paying Rs. 2 Crores from self and balance Rs. 8 Crs from bank finance. Can he claim the exemption for Rs. 2 Crs. of full 10 Crs?
one can claim full exemption of Rs. 10 cr.
because in the law, nowhere mention that same funds must be utilize for further investment.
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Gupta Sachdeva & Co. Chartered Accountants
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