Capital gains

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Gopalakrishnan (Querist)
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30 July 2017 I purchased a flat in 2007 for Rs 14,000,00 taking home loan. Due to circumstances I have to sell it next month for Rs 44,000,00. I just want to know what is my capital gain and how much I have to reinvest for another property to avoid tax/loss? Can I use the amount to reduce my home loan in my new property?Pl help me with details.
Gopalkrishnan

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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30 July 2017 Your Longterm capital gains is Rs.14,48,500/-. You have to invest a minimum of Rs.14,48,500 to avoid Capital gains

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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30 July 2017 Need more information about your query regarding using this Gains in adjusting your home loan

Gopalakrishnan

Gopalakrishnan (Querist)
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31 July 2017 Thank you for the prompt reply which is very useful .

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