our client has sold the house for 1 Cr. He will buy the new house of worth 2 Cr.
this he will finance by sale proceeds(1cr), own saving (50 lacs) and loan (50 lacs) .
what amount will be eligible to take exemption u/s 54.
Also stamp duty paid on new house is eligible for section 54
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capital gain exemption
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what amount will be eligible to take exemption u/s 54.
The capital gains as availed by sell of house property fully.
Also stamp duty paid on new house is eligible for section 54.
Yes , when added to cost of acquisition of new house. But it will not be helpful as total LTCG would have been exempted otherwise.
So, claim it u/s. 80C.
Hope the holding period of house being sold was at least 2 years!!!
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