Income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2012 Hi Friends,

I have sale a property in delhi & with in 2 month i have purchase a property in gurgaon which came with some loan from bank.

like my sale property value + my saving + bank loan = new property.

now the question is it taxable and we have to shown this amount in our itr. if yes where i can take this amount & the calculation for that.

Thanks in Advance my friends

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 July 2012 1. The income from sale of property is taxable under the head Income from Capital Gain.

2. Since you have invested in a new property (assuming it is a residential house property), you can avail exemption u/s 54/54F.

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