Ltcg from commercial property ? any exemption ?

In your case your long term capital gain would be rs 65,11,233.
And there's not any exemption against commercial property. If you were invested this amount in residential house and it would be your 1st or 2nd residential house then exemption should be there under sec 54F.
Repayment of housing loan available under sec 80C (other than interest u/s 24(b) & 80EE) subject to maximum 150000

" question is whether any LTCG exemption will be available or not?"

No........ LTCG of about 65 lakhs, taxed at 20.6%.

If home loan repayment was for any residential house purchased after 01.12.2016..... then yes to the tune of  cost of the house property. (which I don't assume to be true)

Thanks

K P Bhanushali

Sir,

That tax will after indexation of Cost of Purchase, No ?

T & R

K P Bhanushali

Naturally.

COA ... is Rs. 21.42 lakhs........ when indexed to (272/167)........ is app. 35 lakhs