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:

    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?

  2. ashalanshu says:

    Dear KK, the answer is NO.

    Thanks

    Ashal

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