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section 54

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(Querist)
15 January 2011 suppose Mr. purchased residential house property for Rs.1000000/- on 25th december 2010 on 100% loan from the bank.

He sold one of his residential house property in 10th jan 2011 for Rs.1500000/- and capital gain is less than Rs.1000000/-.

will the benefit of section 54 be avalibale since the house is purhased on loan.
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Guest (Expert)
15 January 2011 In my opinion, benefit of section 54 will the avalibale.

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