In financial year 2016-17 I sold my flat in 24 lakhs after clearing of my housing loan I gain 16 lakhs which I invested in purchase of my new flat that finalized immediately after sold out my old flat.for new flat I borrowed fresh housing loan.
I would like to know, how I mention the above said transactions in my income tax returns.do I liable to pay any capital gain tax if it then how much.my purpose of selling or purchase not for investment but for upgration of my living.
CAclubindia
