Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

loan repayment.

18 December 2018

if I am received cheque from sale of building... and used the cheque to repay my old loan... Is there any income tax compliance... plz guide me

Reply
Follow
Share

3 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 18 December 2018

Originally posted by : Naresh Khanduri
	if I am received cheque from sale of building... and used the cheque to repay my old loan... Is there any income tax compliance... plz guide me

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (127911 Points)
Replied 18 December 2018

No... .. .. ..

1 Like

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 19 December 2018

you first need to calculate your CG tax liability . that much amount you need to either invest or pay tax. balance consideration is fully utilizable without any limits.