Tax query
This query is : Resolved
01 July 2014
Hello,
I am selling my apartment which was registered on April 2010. the net profit after paying the homeloan is 26 lacs. Also I am reinvesting the total profit amount in purchasing another property. Can anyone please let me know if I will be taxed for the said capital gain. Also the tax exemption I got past years for home loan interest... will that be taxed?
Experts please reply..
Thankyou.
Prashant.
I am selling my apartment which was registered on April 2010. the net profit after paying the homeloan is 26 lacs. Also I am reinvesting the total profit amount in purchasing another property. Can anyone please let me know if I will be taxed for the said capital gain. Also the tax exemption I got past years for home loan interest... will that be taxed?
Experts please reply..
Thankyou.
Prashant.
Sandeep Dharar
(Expert)
01 July 2014
U must show it in ur ITR both sale and purchase. ur tax will automatically b calculated on the profit after deduction of the invested amount.
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