Hi
We have a property in unauthorized colony bought for 1.96 lacs in 1990 on POA in my mother's. Same got registered to my name in 2019 April for Rs 3000000 on which registration fees of 2 lacs was paid to registerar. We are planning to sell the particular property for 70 lacs in July 2019.
1. How the capital gain will be calculated. Do we consider date of purchase as 1990 or 2019.
2. How tax will be calculated and any way to save tax
3. If I repay the housing loan on other house purchased in 2016, will same be considered in tax calculation
CAclubindia
