Selling house.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 February 2011
I purchased plot for 3L , taken home loan of 7L and used my own money of 7L for constructing the house. Now I need to sell the house for which I am getting 18L. What is the tax implication?
Guest
Guest
(Expert)
18 February 2011
There will be Shortterm capital gain of Rs. 1,00,000/-, it will be taxable as usual with other income but if it is longterm assets, then there will be no tax liability alomost.
Dhirajlal Rambhia
(Expert)
07 November 2021
Date of purchase of plot & completion of house is required for further clarity.
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