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Capital gain on house
Purchased residential house in 2008 for 7 lakh. Sold in 2015 for 22 lakh. Purchased new house for 30 lakh but with 25 lakh loan. Whether capital gain taxable.
Replies (2)
Within prescribed time limit its not taxable the amount setof in new buliding
Which amout ?
Capital gain amount OR full consideration of sale.
Total amount of 30 lakh OR 5 lakh (30 lakh investment less 25 lakh loan)
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