I am selling a property for 50 lakhs. My Capital gain tax is 40 lakhs. I am investing in a land for 20 lakhs .
The balance 20 lakhs is taxable.
I have a hand loan of 15 lakhs borrowed from three people (1 relative and 2 friends)
Does this loan can be adjusted towards my capital gain tax.
Please suggest me what should I do
venkat
CAclubindia
