TaxTMI 
TaxTMI 
Dear Sir
Can i close my business loan taken by using capital gain (sold my residential flat given for rental)
Regards
Praveen
Capital Gain
18 Aug 2021 
1 Reply 
1132 Views Asked by
Capital gain proceeds may be used to repay business loans, with tax liability on indexed capital gain.
Proceeds from the sale of a residential flat given on rent may be used to repay a business loan without restriction; tax remains payable on the capital gain as computed after applying indexation unless an alternative tax treatment is elected. (AI Summary)
Proceeds from the sale of a residential flat given on rent may be used to repay a business loan without restriction; tax remains payable on the capital gain as computed after applying indexation unless an alternative tax treatment is elected. (AI Summary)