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Last Updated On 02-Oct-2021
Tax-Property Tax

Capital gain exemption while selling a flat and repaying the loan for another house?

I am purchasing a house with bank loan. After registration of this house, I will sell my other house and make repayment to the bank. In this case can I claim capital gain exemption? Thank you.

( Ahmedabad, Gujarat )

24-Sep-2021

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A.Dear Sir,
You may contact any chartered accountant for accurate information and guidance as it pertains to financial matter.

Posted On 02-Oct-2021
Kishan Dutt Kalaskar
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Hi,
You can claim the Capital gain exemption only if you use the money from the sale of the property to buy another house. The purchase of a new house has to be done one year before the sale of the house or 2 years after the sale of the house.
Thank you.
Posted On 24-Sep-2021
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