TaxTMI 
TaxTMI 
Capital Gains on Sale of Reverse Mortgaged Property
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....apital Gains on Sale of Reverse Mortgaged Property<br> Query (Issue) Started By: - Rocky K Dated:- 28-1-2020 Last Reply Date:- 22-2-2020 Income Tax<br>Got 1 Reply<br>Income Tax<br>This is query regard....
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....ing Capital Gains on Sale of Reverse Mortgaged Property to settle the loan. The Reverse Mortgage connected with Insurance Company for annuity. And not simple Reverse Mortgage. Will the interest be c....
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....onsidered as an Expense when the property is sold to settle the loan for calculation of Capital Gains ? As after paying the hefty interest to the lender the borrower ultimately doesn't get much in....
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.... hand. Reply By DEV KUMAR KOTHARI: The Reply: Facts in details are required. about property: who acquired ? who created reverse mortgage? who is selling? What are allowable costs after cost inflati....
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....on index? Interest may not be allowed as expenditure at the time of sale of property against capital gains.<br> Discussion Forum - Knowledge Sharing ....