If a person wants to sell his property and use the sale proceeds in pre-payment of an existing home loan then will he get capital gain exemption on the property he sold.
23 July 2024
Sec 54 or 54F mandates purchase of any HP within specified time period, subject to conditions specified in respective sub sections. If those conditions are satisfied, the assessee can claim the exemption. Just repaying loan without any purchase of HP doesn't qualify the conditions.
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