Information about incometax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2011
I purchased a home of Rs 18 lacs in Gwalior by taking a home loan of Rs 14.5 lacs on 27/03/2011. I also sold my own another house of Rs. 14 lacs in 10/07/2011 which was purchased by me in 2004 of Rs. 5 lacs. I fefunded 7.5 lacs to home loan which was taken by me to purchase above said new home.
Please suggest me that in this case what will be my income tax.
Please suggest me that in this case what will be my income tax.
CA Ayush Agarwal
(Expert)
16 November 2011
14 Lacs - Indexation Cost of Acquistion of 5 Lacs. Will Be Long term Capital gain.
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