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Capital Gain

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Learner
3134 Points Joined September 2009
HI...

PLEASE ANSWER BELOW MENTIONED QUERY:-

MR RAM HAD LONG TERM CAPITAL GAIN OF RS 25 LAKH ON SALE OF HOUSE PROPERTY.

HE PURCHASED ANOTHER PROPERTY WITHIN ONE FOR RS 81 LAKH BUT HE AVAILED LOAN OF RS 70 LAKH TO PURCHASE THIS PROPERTY.

PLEASE LET ME KNOW IS IT CLEAR FROM ABOVE THAT ASSESSEE DIDN'T INVEST ENTIRE CAPITAL GAIN.
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On 08 October 2018 at 07:54 Report
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SEO Sai Gr. Hosp.
211552 Points Joined July 2016

For capital gains exemption u/s. 54, new house property should have been purchased by assessee within stipulated time, may be by investing own fund/same proceeds or borrowed money. Here the condition got satisfied, so he can claim full exemption of 25L LTCG.

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On 08 October 2018 at 08:38
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151 Points Joined April 2017
For claiming exemption under Sec 54, condition is just that he should have invested that capital gains amount in one house property, it does not say anything about the borrowed money or your own money. So I think capital gains exemption is still available.
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On 08 October 2018 at 09:36

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