banner_ad

Repayment of home loan

Others 273 views 3 replies
if a person sell of land and repay his entire home loan. what treatment is in income tax.
Replies (3)
You need to pay income tax on sale of land.


housing loan:
principal portion maximum upto 150000/- under 80c
interest portion maximum upto 2lacs exemption available

You need to pay Capital Gain tax on profit portion of upon sale of land.  gain can be short term or long term.  

if there is no gain than no need to pay tax. 

however on repaying housing loan you will get following deductions / Exemptions under IT Act 1961.

u/s 80C  : principal portion maximum upto 1,50,000/-

u/s 24 b : interest portion maximum upto 2,00,000/-

Capital Gain tax have to be paid on sale of Land. 

Further, you will get deduction u/s 80C for repayment if housing loan. 

Principal  amount upto Rs. ,1,50,000 exempted 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details