Hello,
I have two questions:
1) Can long term capital gain arising out of property sale be used to pay off home loan? - Details and background: I am planning to book a new property by taking home loan of 30% of new property value. Side by side I have an old property which is on sale, once sold can long term capital gain from old property be used to pay off home loan taken for new property booking?
2) Can long term capital gain arising out of sale of two properties + sale of shares/stocks be adjusted against 1 single new property purchase? - In short how many types of long team capital gains arising out of properties, shares and any other investment be adjusted against one property? Is there a rule on that from IT?
Thank you!
CAclubindia
