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Capital Gain Tax On Sale Of Property
This is a discussion on Capital Gain Tax On Sale Of Property within the Chit Chat forums, part of the Offbeat Lounge category; Dear sIR, Can you help me to get following answers with authorities and a copy of relevant details pl :- (a) I had taken a loan of Rs 3 Lac ...
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#1
03-05-2007, 08:53 PM
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Dear sIR, Can you help me to get following answers with authorities and a copy of relevant details pl :- (a) I had taken a loan of Rs 3 Lac in 1995 from HDFC to buy a flat. I further took top-up loan of Rs 4 Lac against the same flat from HDFC. Will the loan amount paid back to HDFC (approx Rs 5.5 Lac), out of the proceeds of the sale of the flat be reduced, ie if the proceeds of the sale is Rs15 Lac, will Rs 5.5 Lac be deducted from Rs 15 Lac for calculating Wealth gain tax. (b) Can the gains from sale of property be reinvested in purchase of plot, if yes then what are the provisions? (c) If I reinvest the gains of the property for purchase of flat from Army Welfare Housing Orgnisation, what are the provisions for escaping Capital Gain Tax? (d) What are the provisions of financing part of the total amount required for purchase of property from personal loans ie personal loans from relatives and friends.      |
Capital Gain Tax On Sale Of Property |
#2
03-11-2007, 11:55 AM
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| Hello, This is beyond the scope of RTI India, and I am moving this to 'chit-chat' forum, so that any informed member can respond to your query. Regards,
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