Query on minimising capital gain

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  1. kartik3012

    kartik3012 New Member

    Hi,

    Please help me for below scenario related to capital gain.

    In 2010 I purchased residential plot(128 sq meter) - 7,00,000 - (took loan of 6,50,000) - circle rate 5000 /sq meter
    2016 - sold for 43,00,000 ( from which I paid plot loan amount of 4,00,000 ) - circle rate 19500/sq meter

    capital gain = (39,00,000 - (128*19500=24,96,000) = 14,04,000

    Further I am buying a flat which costs 45 lakh, but I am investing only 25 lakh out of 39 lakh to buy this property . Rest I will be taking loan.

    Would capital gain be fully exempted?
    If any gain is levied, what it would be??

    Thanks in advance....
     
  2. Karan Batra

    Karan Batra Well-Known Member

    1. Exemption would be allowed under Section 54F
    2. As full amount is not reinvested, capital gains deduction wont be allowed for the full amount
     
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