27 August 2011
A person doesn’t possess a house in his own name. (One house in the name of his wife exists in which they resides) The person sold his agricultural land. sale value = 1300000 LT capital gain = 800000 (after indexing etc.)
Now: sale value of land=1300000 homeloan = 1300000 new home purchased (selfname) = 2600000 what will happen to LTCG ???
CAclubindia
