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Information about incometax

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 November 2011 I purchased a home of Rs 18 lacs in Gwalior by taking a home loan of Rs 14.5 lacs on 27/03/2011. I also sold my own another house of Rs. 14 lacs in 10/07/2011 which was purchased by me in 2004 of Rs. 5 lacs. I fefunded 7.5 lacs to home loan which was taken by me to purchase above said new home.
Please suggest me that in this case what will be my income tax.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
16 November 2011 14 Lacs - Indexation Cost of Acquistion of 5 Lacs. Will Be Long term Capital gain.

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