{"id":38377,"date":"2024-01-16T19:13:12","date_gmt":"2024-01-16T13:43:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=38377"},"modified":"2024-01-16T19:13:12","modified_gmt":"2024-01-16T13:43:12","slug":"section-54f-exemption-second-house","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/section-54f-exemption-second-house\/","title":{"rendered":"Section 54F Exemption , second house ?"},"content":{"rendered":"<p><strong>An individual purchased a second house property in December 2018 for a total consideration of Rs. 1.15 crores The individual borrowed a home loan from a nationalized bank to the extent of Rs. 1.20 crores. The individual received the possession of the house in April 2020 and he started occupying the house from June, 2020<\/strong><\/p>\n<p><strong>In December 2020, the individual sold the shares of a private limited company for a total consideration of Rs. 2 crores. (cost of acquiring the shares was negligible and shares were held since 2014). Out of the money received from sale of shares, the individual repaid the entire home loan of Rs. 1. 20 crores in January 2021.<\/strong><\/p>\n<p><strong>Can the individual claim exemption u\/s. 54F from long term capital gains arising on sale of shares against repayment of home loan?<\/strong><\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1130,1129],"qa_category":[23],"qa_tag":[1152],"class_list":["post-38377","qa","type-qa","status-publish","hentry","qa_expert-chartered-accountant","qa_expert-mr-h-n-motiwalla","qa_category-income-tax","qa_tag-investment-in-second-house"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/38377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38377"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38377"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=38377"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=38377"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=38377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}