Housing loan tax for seller

[Guest]

Dear Experts,

My question is,

im the seller of my home, the buyer took the home loan for buying the home.

1. the home loan providing sector will pay the amount by cheque directly to seller?

2. if they directly given and we use that cheque to get money from bank, in that time seller have to pay any tax?

please im so confused, looking for expert reply and guidance.

AI Summary

Seller Queries Tax on Home Sale with Buyer's Loan; Expert Explains Capital Asset Taxation as Income from House Property A seller inquired about the tax implications when a buyer uses a home loan to purchase their property. Specifically, they asked if the loan provider issues a cheque directly to the seller and whether the seller must pay tax upon using that cheque. An expert responded that the house is considered a capital asset, and tax is calculated under 'income from House Property' for tax returns. The seller requested further clarification on tax details, and the expert suggested reading specific articles for a better understanding.