hi.. i want to know whether the proceeds of long term capital gain from sale of a residential house can be used to pay of the debts of the Assessee(debts relating to house so being transfered)?
If so, can it be even used to pay off loan povided by private parties?
If not so, can the Assessee evade paying capital gain tax? Does all people who sell their capital asset are paying the capital gain tax promptly?
no ,only allowed r exp r expences on transfer . on the remaining u have to pay LTCG/STCG as the caes may be however u can claim exemption u/s54 but to claim this exemption u either have to purchase a new house propery or construct
get the details of the section fron the share files it is available there
Dear sir,
I want to know that if a person sell his house property situated at Mumbai and he purchase another house property in Austrilia then can he claim long term capital gain exemption on house property purchased in Austrilia
CAclubindia
