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Selling house.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2011 I purchased plot for 3L , taken home loan of 7L and used my own money of 7L for constructing the house. Now I need to sell the house for which I am getting 18L. What is the tax implication?
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Guest

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Guest (Expert)
18 February 2011 There will be Shortterm capital gain of Rs. 1,00,000/-, it will be taxable as usual with other income but if it is longterm assets, then there will be no tax liability alomost.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 November 2021 Date of purchase of plot & completion of house is required for further clarity.
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