TaxTMI 
TaxTMI 
Property sale Capital gain tax
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....roperty sale Capital gain tax<br> Query (Issue) Started By: - chris ivory Dated:- 10-12-2015 Last Reply Date:- 11-12-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>My father bought land for 1 lakh (1....
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....991) and sold for 36 lakh (2015) It was in the name of myself and my brother . I got 18 lakh and another half gone to my brother account. I have used this money to settle my home loan in 2015 for 1....
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....4 lakh (Flat booked in 2012 - Home loan started in 2013) I have left with 4 lakh remaining which i will use to settle the demand of the builder for the same flat - 2012. I am in 30% bracket of aroun....
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....d 13 lakh income group (paying 1.6 lakh income tax) - Will my above transaction that i have used land proceeds money towards settling my home loan will qualify for NO capital gain property tax on me....
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....? - I have left with 4 lakh in saving account,can i use it for short term FD in bank,as demand letter from builder is very slow? Reply By MARIAPPAN GOVINDARAJAN: The Reply: Capital gain tax definit....
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....ely attract in your case.<br> Discussion Forum - Knowledge Sharing ....