Can we repay loan from gains of sale proceeds?- Property Hotline
August 18, 2016
405
4
1
1.23%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Mirror Now Episodes Around August 18, 2016
See what was published immediately before and after this episode.
1:32Now PlayingCan we repay loan from gains of sale proceeds?- Property Hotline
YouTube Description
as posted by the channelExpert: Ashish Sodhani, Associate - International Tax Practice at Nishith Desai Associates.
Question: I own 2 properties. One is ready property, the other is under-construction. I plan to sell the ready property. I want to repay the loan on the under-construction property using the gains from the sale. Will I have to pay capital gains tax?
Answer: Capital gains from the sale of property used for residence can be used to purchase residential property either one year before or 2 years after the date on which the sale has taken place or within 3 years constructed a residential property. Property in this case has already been purchased and hence capital gains should be payable.
Be Un Confused
Links & Promotions
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.