Hp1 is purchsed for 15 lacs
sold for 50 lacs
suppose ltcg- 30 lacs
purchase hp2 for 75 lacs
housing loan-50 lacs
will the cap gain be fully exempt under sec 54??
Hp1 is purchsed for 15 lacs
sold for 50 lacs
suppose ltcg- 30 lacs
purchase hp2 for 75 lacs
housing loan-50 lacs
will the cap gain be fully exempt under sec 54??
If i go literally , Yes it would be fully exempt.
Yes.......
Hi Asmi,
The amount of Exemption will be
The Purchase Price of the Property
or
The Capital Gain
Which ever is less
Regards
Vijay Kumar
CAclubindia
