Section 54 of the Income Tax Act 1961

yes it will qualify for sec 54 exemption

plz chck d following link in support of the same

https://taxworry.com/is-exemption-us-sec-54-allowed-even-if-new-house-is-purchased-from-borrowed-funds/

apply a simple logic...in case u are purchasing a new house before the date of transfer of old house..how can u expect to invest the SAME AMOUNT which u received on the sale of old house...?? Its not possible coz u receive the sale inputs after u have already purcahsed a new house..so we reach a conclusion that the reinvested amount need not be the SAME amount received by way of transfer .......

Yes it will qualify for exemption u/s 54.

Certainly qualifies because even if u purchased new HP before sale within one year then also it is allowable. Not compulsarily it need to be the same money.

I would rather play safe and prepay the housing loan so availed .

Anuj

+91-9810106211