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For capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 October 2015 Mr x purchase house on loan and pay installment. After 2 year he is not able to pay other installment and remaining installment not paid by Mr X. So, in the given case any capital gain arise on Mr X?
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 October 2015 if the house is sold by the loan giver (say bank), then capital gain will arise. If the period of holding id less than 3 years, it will be short term capital gain.
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