Can exemption u/s54F on capital gains tax Be Claimed if the sales proceeds of the capital asset is utilized for repaying loan taken for buying house?

Filed under capital gains by taxworry on April 29, 2010 at 1:05 pm {one comment}

exemption on capital gains u/s 54F .One of my clients has taken loan from her son to pay installment of Bank housing loan . She took the personal loan in March 2010. She has paid the first installment of bank loan in March 10, and the second in April 10. She intends to sell some of jewelry (LTCG) in April end

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