Dear Friends,
One of my friend has 2 houses one in Mumbai (Bought in Sep11 Cost Rs 1 Cr (Loan 75 lacs)) & second in kolkata in fy11-12. Mumbai house is sold in fy11-12 but the sale deed registration done in fy12-13
No my query is in fy11-12 he has owned 2 houses so how can he save on wealth tax. What value will be considerd for wealth tax purpose for mumbai house i.e. is it net of loan amount i.e. Rs 25 lacs or Rs 1 Cr?
CAclubindia
