01 July 2014
Hello, I am selling my apartment which was registered on April 2010. the net profit after paying the homeloan is 26 lacs. Also I am reinvesting the total profit amount in purchasing another property. Can anyone please let me know if I will be taxed for the said capital gain. Also the tax exemption I got past years for home loan interest... will that be taxed? Experts please reply..
01 July 2014
U must show it in ur ITR both sale and purchase. ur tax will automatically b calculated on the profit after deduction of the invested amount.
CAclubindia
