Advise on sale of property

hii Friends

I have a query..My friend is having 2 properties. One is at janakpuri & other one is at fridabad. Loan on Janakpuri property is 20 Lacs & on Fridabad property 15 Lacs . Market Value of Fridabad Property is around 40 Lacs. Now my friend want to dispose off the fridabad property at the rate of 40 Lacs and wants to get rid off from both the Loans.

Plz Advise the same..

Thanks in advance..

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CA HARPREET SINGH

@sh jais

he will have to pay LTCG (assume property is owned for more than 3 years) on 25 lakhs (indexation to be taken according to year).

further he will get deduction of Rs. 1 Lakh under 80C repayment of term loan.

CA HARPREET SINGH

TKKKKKK

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