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Vacant land sale and capital gain investment
I have one Flat where i am staying. Also has loan on it. Now i am planning to sell one plot purchased in may2010. To pay capital gain tax can i apply indexation method. To save tax only bond is the way or repayment of housing loan is allowed???..pls guide me
Replies (2)
You cannot repay housing loan to claim exemption from capital gain.
you can apply indexation method to pay LTCG.
and repayment of old loan would not be eligible for exemption
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