Capital gain treatment

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.

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