Capital gains
This query is : Resolved
Gopalakrishnan
(Querist)
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
Gopalkrishnan
K Srinivas, CMA CS
(Expert)
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
(Expert)
30 July 2017
Need more information about your query regarding using this Gains in adjusting your home loan
Gopalakrishnan
(Querist)
31 July 2017
Thank you for the prompt reply which is very useful .
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