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Long term capital gain

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(Querist)
12 November 2014 LTCG is arise on sale of house is Rs. 1000000 to Mr. A. He purchases a new house for Rs. 1200000 which is financed by bank up to Rs. 1000000 in the same financial year. Please let me know that the LTCG is exempted u/s 54 of the Act or not?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 November 2014 you still get the exemption.........
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 November 2014 you still get the exemption......
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Rupesh Jain

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Rupesh Jain (Expert)
13 November 2014 at present your new purchase more than the LTCG then its exempt

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