27 July 2018
Sir, My client has sold out a residential house property for 50 lacs in 2018 which was purchased by him in 2011 for Rs. 35 Lacs and then he purchased another house after sale of existing house for Rs. 55 lacs but taken a house loan from bank for purchase of this new house for Rs. 50 lacs.
Please suggest whether exemption u/s 54 can be availed for sale of this house and then purchase a new house
CAclubindia
