An Assesse is a NRI, She Had a two house Proprety in metro city, one of that was under Housing Loan for more than three years and assesse had 3 plots in municpal limit. Now she sold all the 3 plots, obviously capital gain will arise, whether she can adjust or set off against the Housing Loan, If not where she can pay the capital gain, whether in India or Contracted State.
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About capital gain
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she cannot setoff the capital gains against the housing loan. she can invest either under 54ec in tax saving bonds or purchase a new property. as property is located in India tax need to be paid in India
THANK YOU MR.GIRIDHAR S KARANDIKAR
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