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Bank loan

665 views 5 replies

Rupesh Soni

Taxation Consultant & CA final student

504 Points Joined September 2009

if I had taken Housing loan of Rs.20lakh To buy house of Rs 30lakh..i have to pay mortage H. Loan in 120 Emi Quee Am i Sale House aftr 2 yrs???

Replies (5)

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

your ques. is not clear, please elaborate. as far as i have understood i can only reply that u can sell your house after 2 yrs but any gain will be chargeable as short term capital gain and accordingly taxed.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

above answer will apply if your house is not mortgaged against your housing loan. if mortgaged then u can sell your house unless you repay your loan.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

plss correct on above answer... "cant sell"

Piyush Mittal

Article Assistant

63 Points Joined December 2013

U can't sell ur house unless u repaid ur loan...but if u sell ur house after repayment in 2 year from the date of purchase then short term capital gain is attracted..