vishwanath shanbhag (1 Points)
03 February 2018Hello. I am selling a property in bought in 2013 (more than 3 years old). I am getting a capital gain of roughly 3,50,000 from the sale.
If i use the gain to repay my other housing loan (which i have bought in 2005), will tax be excempted? If no, how much CGT am i liable to pay?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 03 February 2018
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Hello. I am selling a property in bought in 2013 (more than 3 years old). I am getting a capital gain of roughly 3,50,000 from the sale. If i use the gain to repay my other housing loan (which i have bought in 2005), will tax be excempted? If no, how much CGT am i liable to pay? |
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No.
At 20%.... around 70,000/-
CAclubindia
