Agriculture land by selling/loan gold
This query is : Resolved
11 December 2011
Hi,
My mother had got gold jewellery during her marriage.Can she sell or take gold loan from muthoot on that gold and buy an agriculture land and if Gold loan than interest paid on that gold loan is tax free or not
My mother had got gold jewellery during her marriage.Can she sell or take gold loan from muthoot on that gold and buy an agriculture land and if Gold loan than interest paid on that gold loan is tax free or not
11 December 2011
your mother has to pay the gold loan's interest, where the question arise the interest free.
11 December 2011
If after Some years she settled off gold loan from muthoot then whether the land bought is calculated as her asset or not
CA Hardik Bunha
(Expert)
11 December 2011
My friend it is an EXPENSE then no matter for tax free or not.
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