Long term capital gain on sale of house

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  1. jayanthm

    jayanthm New Member

    i have made 15 Lakh long term capitsl gain on sale of property(house) i now purchase a house for 35 Lakhs entirely by taking housing loan . Whether i will get tax exemtion on capitap gain.Because purchase of house prior to one year of sale is allowed,then amt invested would be differnt source other than capital gain
     
  2. rudrabose

    rudrabose Active Member

    Capital Gains Exemption under Section 54 is allowed if the amount is reinvested 1 year before or 2 years after the sale of the property.

    Therefore, in your case - you can claim exemption
     
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