Income tax on immovable property

Tax planning 147 views 4 replies
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Manager
52 Points Joined February 2019

Sirs, I want purchase one new  house by selling my old house. As I am not getting good price for my old house, I want to go for housing loan and buy newn house and later when the good price comes for old house, I want to repay the housing loan. In this case can I get the capital gains benift or not 

 

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On 18 February 2019 at 18:39 Report
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SEO Sai Gr. Hosp.
196532 Points Joined July 2016

Yes, you can get benefit u/s. 54 only if the old house property is sold within one year of purchase of new one.

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On 18 February 2019 at 20:21
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CA FINAL ASPIRANT
3115 Points Joined September 2018
yes you can take the benefit u/s 54 for capital gain exemption and for interest on home loan u/s 24(b)
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On 18 February 2019 at 20:37
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Manager
52 Points Joined February 2019
Thank you Dhirajlal Rambia Sir and Pushp Kumar Sahu Sir
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On 18 February 2019 at 21:29
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CA FINAL ASPIRANT
3115 Points Joined September 2018
you are most welcome 😊😊
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On 18 February 2019 at 21:34


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