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capital gains
by a c m on Jul 09, 2007 12:37 PM

i have inhereited a house property. which i want to sell. my share in that property may be around 12-14 lacs. i have also booked a house to be construced by a builder. the possession of the house will be handed over to me in 2008. the cost of the house is 25 lacs. i have borrowed an amount of rs. 20 lacs from my banker. can i get the benefit of capital gains if i sell the house inherited by me and deposit the entire sale proceeds in my housing loan account. kindly clarify. acmisra

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The odds favour the house