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Tax implications of capital gain in following case
Assessee has taken a mortgage loan on his property from bank . Then assessee has defult in repayment of loan . so bank has sell out his property. Thus capital gain on that property whether taxable in hand of bank or assessee or not ?
Replies (1)
Taxable in the hands of assessee borrower. Depending upon holding period, either as STCG or LTCG
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