Applicable Tax on Sale of Property

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  1. ChandanChhabra

    ChandanChhabra New Member


    Have 4 quick questions ---
    1. Does 'cost of acquisition' cover the interest paid to the bank against Home Loan till the time of sale!
    2. Does the registration charges paid at the time of possession form a part of 'cost of acquisition!'
    3. Does 36 months period (for computing Short Term Capital Gain or Long Term Capital Gain) get computed from the date of possession or from the construction period!
    4. If the revenue from sale deed is further invested to buy another property, are we still eligible for paying Capital Gains Tax!
    Could someone please help here!

  2. ZED

    ZED Well-Known Member

    It can be included provided that deduction has not been claimed u/s 24(b) for the interest.

    Yes, because this was incurred for acquiring the property.

    Date of allotment letter is generally accepted.

    Exemption can be claimed u/s 54. There are some conditions for claiming the exemption, you should study that thoroughly.
    [If exemption is to be claimed then it should be done at the time of filing of the return.]
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