Property gain tax
This query is : Resolved
Ankit Gupta
(Querist)
24 May 2015
In order to save property gain tax can i pay my home loan from the income from the flat i have sold out.
25 May 2015
You can pay, but that wont be helpful for the purpose of capital gain tax u/s 54, you need to buy a new residential property or you need to invest the same u/s 54EC i.e. rec bonds or nhai bonds
Rupesh Jain
(Expert)
29 May 2015
you have to buy new property from sales proceeds, for loan repayment is not help you to save the capital gain
29 May 2015
agreed with atit shah's reply........
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