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Exemption of LTCG under sec. 54F
New house purchased is financed by Bank Home loan. Can I still claim full exemption under section 54F? Net Sale consideration from old capital asset is Rs. 1,00,000 and Cost of residential house is 11,00,000/- and Bank loan is 10,80,000/-
Replies (3)
Yes, you are eligible subject to compliance of other conditions u/s.54F
Thank you Sir @ Dhirajlal Rambhia. One more question. Is it not necessary to invest net sale consideration as the new house purchased is financed by Bank Loan?
Source of finance is irrelevant.......... the amount of investment in house property is related to net consideration for sec. 54F exemption.
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