a. I had bought one property 'A' in August 2007 in city 'A' for 35L, outstanding loan 18L
b. I am residing in city 'B' and have bought a property 'B' for self occupation in June 2010 for 1.3 Cr, outstanding loan 1.1Cr
c. In 2013, i want to sell of property 'A' for selling price of Rs 1Cr
d. Post indexation my profit is coming out as ~30L
e. Can i use this profit to pay off my loan and not be required to pay any LTCG? (Equating it to a scenario of reinvestment in real estate)
Please help.
hi dalvinder,
u cant claim 30 lacs as exemption for paying off loan taken on a house 3 yrs before.
If u had taken that house a year before,u cud have taken.
Now, u can invest in Bonds of NHAI or REC bonds within 6 months.
| Originally posted by : Akshata | ||
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One more query: what date do i take into consideration for all these calculations? a. Date of registration b. Date of completion of all payment to builder/seller c. Date of possession
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date of possession
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