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Tax on long-term capital gain


(Querist)
11 July 2018
Dear Experts, I have purchased a house in August 2016 , cost of house was 22 lacs.to purchase house loan of 17 lacs taken by me from OBC. I have sale out a plot in February 2018 ,sale amount is 12 lacs which was purchased by me in 2010.purchased amount was 5 lacs. I have deposited 12 lacs rupees for my home loan which I got after selling a plot. My query is that I have to pay any tax or not for long term capital gain. Thanks and regards Raj


CA R SEETHARAMAN (Expert)


Click to Talk 11 July 2018
You have to pay tax on long term capital gains as purchase and sale gap is more than one year.


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