05 November 2014
suppose I have taken home loan of 35 lacs,
in june-2014,
now I have sold my other flat in 17 lacs and I would like to credit this 17 lacs in my home loan account as principal then what would be the impact in my final form 16.
is sold out money is taxable even I credit it in home loan ?
06 November 2014
the taxability depends on when you bought the house against which you took 35 lacs loan..and for how long you held the house that you have sold...
CAclubindia
