Capital gain exemption while selling a flat and repaying the loan for another house?
2 years ago
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.
A.Dear Sir,
You may contact any chartered accountant for accurate information and guidance as it pertains to financial matter.
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A.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.
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.
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