Capital Gain tax liability

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Dattatray Kolte (Querist)

21 September 2017 I bought 1 bhk in year Aug 2013 with 1. flat cost - 2728000 2. Stamp Duty- 136400 3. Registration - 27280 4. other expenses like safety door and grill: 30000(but paid by cash) Due to some financial issue in year 2017 i want to sell this flat at 3875000. (Note: I have total 3 flat, 1. bought in 2009 got possession in 2014, 2. bought in 2012(the one which I want to sell) 3. bought last month Aug 2017 Question: 1. what will be capital gain tax i need to pay after indexiation. 2. if I invest all capital gain to repay loan for the flat purchased in Aug 2017, can I save the tax Thanks for the reply

Dattatray Kolte

Dattatray Kolte (Querist)

21 September 2017 In note I have explained that I have 3 flat and one i want to sell

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

21 September 2017 1.Your long term capital gain will be zero. So no need to pay tax 2.No tax exemption allowed on payment of flat.You can claim deduction u/s 80C for principal payment of house loan.

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