Can make the payment out of consideration received from flat sold.
Bhushan (Sr. Manager-Internal Audit) (42 Points)
05 July 2017Bhushan (Sr. Manager-Internal Audit) (42 Points)
05 July 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177955 Points)
Replied 05 July 2017
First you will have to declare the sell of the flat, in the ITR of corresponding year, and declare any capital gain/ loss arrived in the transaction. If liability arise, pay legitimate tax over it.....
You can utilize/spend the received amount the way you wish...... No restriction..