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Exemption u/s 54

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(Querist)
17 December 2012 Dear Sir,

My query is as follows;

Capital gain on residential house property = Rs. 5,00,0000/-

I have purchased new house = Rs. 15,00,000/- of which I have taken Rs. 13,00,000/- loan from Financial Institutions.

I wanted to know can i get exemption of Rs. 15,00,000/- or Rs. 2,00,000/- (after deduction loan amount) against my capital gain of Rs. 5,00,000/-
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CA Manish

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CA Manish (Expert)
17 December 2012 You can get exemption of rs 500000/-

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