ICICI

Capital gain on sale of property


Sri Snigdha (Articles Assisstant)     20 October 2019

Sri Snigdha
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can any exemption be claimed if the ltcg used for clearing the existing house property loan from a bank?
or utilising the same amount for construction of a floor in the existing building for claiming exemption? kindly advise!!

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Gaurav Sharma   20 October 2019

Gaurav Sharma

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If LTCG is on sale house property than u/s 54 you can claim deduction for expenses incurred on construction of house property within 3 year

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Sri Snigdha (Articles Assisstant)     20 October 2019

Sri Snigdha
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But it not the construction of a new house.. but to build a new floor on the existing building

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rama krishnan   20 October 2019

rama krishnan

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In my opinion no deduction will be allowed


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