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income from sale of Residential Property in less than 3 yrs.

This query is : Resolved 
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(Querist)
03 February 2009 I have gained a short term gain by sale of Residential Property in less than 3 years.

I earned Rs. 2.50 lakhs. I have paid interest on housing loan of Rs. 54,953/- as interest in year 2008-2009. and Rs. 33,033/- as in in the previos year (07-08).

I have also spent Rs 65000/- of Repairing and redoing of house in the current year for that also I have taken a loan from HDFC. Other expense for aquiring the house are registration and Stamp duty of Rs. 23000/- and Property tax paid to Municipalty is Rs. 5000/- My net income from salary is Rs. 166000/- please help me to calculate my tax liability. I have paid Rs. 6000/- as interest on loan taken for repairing.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
03 February 2009 Plz provide the interest paid on repair loan taken.
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Ashwin Rk Ghadge

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Ashwin Rk Ghadge (Querist)
04 February 2009 I have paid Rs. 6000/- as interest on loan taken for Repairing work done
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 June 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
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