Exemption from LTCG

S.SAMBATHU (RETIRED) (98 Points)

06 July 2019  

In F.Y 18-19 my brother sold residential vacant land for rs.1.2crore.The capital gain is rs.1crore.He availed housing loan of rs.2.2 crores and purchased a new flat for rs.2.2crores,by utilising the capital gain and the loan AMT.Now in this financial year 19-20,he sold another residential land for rs.65laks,and deposited the same in his s.b
a/c.Now can he repay the housing loan or invest in specified bonds for exumption from LTCG.Plese guide me.