Will Capital Gain Tax be exempted if I sell one house and pre-pay for another house loan ?

POSTED BY KK ON May 17, 2014 11:07 am COMMENTS (2)

Hi,

If a person has 2 houses and if he sells one of them and use that money in settling the home loan on other house then will the CG be exempted?

2 replies on this article “Will Capital Gain Tax be exempted if I sell one house and pre-pay for another house loan ?”

  1. nsabhyankar says:
    August 6, 2014 at 2:19 pm

    Dear Ashal,

    Is it because the funds are not directly used to buy the house but used for repaying the loan? Or is there any other reason?

    Reply
  2. ashalanshu says:
    August 1, 2014 at 7:04 am

    Dear KK, the answer is NO.

    Thanks

    Ashal

    Reply

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