Is the subject required to pay capital gains tax ?

garima (Homemaker) (67 Points)

29 April 2017  

If a person was not able to sell property A because there were no buyers at that time and managed the funds required to buy a new property B on his own (say takes money from various sources) and buys it, and say later on when he gets the correct price for A, he sells A and repays the loan he acquired from various sources to buy B, is he subject to capital gains tax for selling A now ?