Tds and capital gain - flat sale
This query is : Resolved
R KALYANA SUNDARAM
(Querist)
11 June 2016
Dear Sir,
I bought a 1BHK flat at Chennai for Rs.11,50,000/- in the year 2005 with home loan through bank. Now the bank loan settled my me. Also I am thinking that I would like sell the 1BHK flat for Rs.17,00,000/- in the year 2016.
Request you to share consequence of TDS and Capital Gain for the above transaction.
Thanks
R Kalyana Sundaram
I bought a 1BHK flat at Chennai for Rs.11,50,000/- in the year 2005 with home loan through bank. Now the bank loan settled my me. Also I am thinking that I would like sell the 1BHK flat for Rs.17,00,000/- in the year 2016.
Request you to share consequence of TDS and Capital Gain for the above transaction.
Thanks
R Kalyana Sundaram
Ganeshbabu K
(Expert)
11 June 2016
NO TDS obligation would arise in the transaction.
NO Capital gain would arise as Indexed cost of acquisition is more than value of consideration..
NO Capital gain would arise as Indexed cost of acquisition is more than value of consideration..
R KALYANA SUNDARAM
(Querist)
21 June 2016
Thanks for your information.
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