Sec 54 f exemption

HELLO FRIENDS, MY CLENT HAS TO INVEST RS. 20,50,000 TO AVAIL THE SEC 54 F EXEMPTION.

HE PURCHASED THE PLOT FOR RS 10 LAKH AND SPENT RS 5 LAKH ON CONSTRUCTION ANS IN THE MEAN TIME HE AVAILS THE HOUSING LOAN AND SPENTS RS 7 LAKH FROM THERE.

NOW, PLS. TELL ME WHETHER HE CAN INVEST RS 5 LAKH IN REPAYING THE HOUSING LOAN OR NOT.

CAN HE AVAILS THE EXEMPTION BY PAYING THE HOUSING LOAN.

PLS. HELP ME.

THANKS,

Replies (1)

make sure client does not have any oder house in his name.

if its this his only house he is constructing, then he can avail the exemption for Rs. 20,00,000.

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