Capital gain treatment

238 views 1 replies

I have Purchased a new house in A.Y.14-15 for 15,00,000

now in A.Y.2015-16 i sold my old House for 10,00,000/-

Cost of House was 8,00,000/-(after Indexation)

Addtional Info

1.i have taken Loan of 10,00,000 for purchase of that new House mention above.

2.interest is 12%

Question is...what will be the tax treatment for this ?

Replies (1)
Nil capital gains. Exemption can be claimed under section 54 as you have purchased another house property within the time limit. Further, interest on house loan can be claimed as deduction u/s 24 and principal repayment can be claimed u/s 80c.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details