TOTAL AREA OF PROPERTY 1800 sq.ft. ASSESSEE PURCHASED A SHOP FOR Rs. 8, 50, 000/- FROM HIS DAD WHICH WAS PART OF THE HOUSE PROPERTY (AREA120 SQ.FT.).HE TOOK A HOME LOAN OF 60L AND GAVE IT TO HIS BROTHER IN LIEU OF HIS SHARE IN THE PROPRTY. NOW HE IS THE OWNER & HE SOLD THE PROPERTY INCLUDING SHOP FOR 1.5 CR AND PURCHASED A NEW PROPERTY FOR RS. 85, 50, 000.ALSO HE REPAID LOAN OUT OF CONSIDERATION RECEIVED (1.5CR).CALCULATE THE CAPITAL GAIN.
DATE OF SALE : 26.09.2019
DATE OF PURCHASE OF NEW:18.01.2020
DATE OF SALE OF SHOP: 23.07.2016
CAclubindia
