I have sold my residential flat for Rs 42 Lakhs and I am arising 35 Lakhs as LTCG.
My query is I want to buy a new flat for self-occupation for Rs. 49 lakhs for which I am taking a bank loan of Rs. 25Lakhs and the remaining 24 Lakhs is a self contribution. and 18 lakhs for investment in my business.
Should I have to pay tax on Rs. 11 Lakhs ( 35 - 24 ).
CAclubindia
