TMI BlogProperty sale Capital gain taxX X X X Extracts X X X X X X X X Extracts X X X X ..... My father bought land for 1 lakh (1991) 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to settle my home loan in 2015 for 14 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 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2012. I am in 30% bracket of around 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 fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r NO capital gain property tax on me? - 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 GOVINDARAJA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N - The Reply = Capital gain tax definitely attract in your case. - Property sale Capital gain tax - Query Started By: - chris ivory Dated:- 10-12-2015 Income Tax - Got 1 Reply - Income Tax - Disc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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