Capital Gain Exemption if New House on Loan

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  1. jayanthm

    jayanthm New Member

    i have made 15 Lakh long term capital gain on sale of house
    i keep this amount separately
    i purchase another house for 35 lakhs entjrely by taking housing loan within 2 Yrs of selling old house.
    shall i get tax exemption on capital gain
     
  2. Manoj Mehra

    Manoj Mehra Active Member

    Yes, you can claim capital gains exemption as the new house is purchased within 2 years.

    It does not matter whether the house is purchased from own funds or on loan.

    Exemption would be allowed to you.
     
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