what is long term capital gain if resident salaried man is having two houses. He sale one of the house 90 months after purchasing. He had taken top up housing loan for house maintenance.
he repaid most of the loan. How is capital gain calculated and how he can save tax?
Purchase value 10 lakhs
sale value 45 lakhs
Total home loan and top up loan for maintenance is 24 lakhs and outstanding 12 lakhs.
2nd property is also having loan 20 lakhs.
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