Ltcg from commercial property ? any exemption ?

K P BHANUSHALI (PROPRIETOR) (511 Points)

30 October 2018  

Hii Friends,

On 23/09/2010, I purchased a Shop for Rs. 2142000/- and given it on Rent.

This Shop has been sold on 24/11/2017 for Rs. 1 Cr.

Immediately, this sale proceeds were used to the tune of Rs. 16 Lacs for Re-payment of Housing Loan & Balance of Rs. 40 Lacs were used to Buy a Commercial Property (Having 3 Joint Owners with 40 (my self) + 40 + 40=Totalling to Rs. 1.20 Cr

Now, question is whether any LTCG exemption will be available or not.

Do, help

T & R

K P Bhanushali