Vishal Thakur (Job) (48 Points)
14 January 2011I have a query from capital gains section 54. For example my capital gain from sale of house property is Rs.25,00,000 and i have invested in another residential house property Rs.40,00,000.Mode of investment is Rs.20,00,000 from capital gains and balance amount i have taken loan from bank.How much amount is qualified for exemption ?
CA PARAS BAFNA
(Practising CA )
(33423 Points)
Replied 14 January 2011
Since the amount invested in the house is more than the amount of capital gain entire capital gain would be exempt. Source of investment may be loan.
Dheeraj
(Learner)
(1100 Points)
Replied 14 January 2011
Rs 25 lac.
as the amt invested is 40 lac which is more than 25 lac
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