Capital gains

Nikhil Sharma (Government Service)     23 May 2016

Nikhil Sharma
Government Service 
 50 likes  533 points

| My Other Post

A person got a new house constructed in August 2015 by financing through bank loan. If he sells his old house in july 2016,he will be earning long term capital gains. He will use these capital gains income to repay the bank loan. Can he get these capital gains exempted ?


sravan (article student)     23 May 2016

article student 
 8 likes  86 points

View Profile | My Other Post

No, he can not get exemption by repaying the loan taken for the purpose of construction of the capital asset

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »