if i baught an house @
1500000 by cash or by
cheque for self use
then how much tax i
liable to pay? if my
annual income is not
taxable, and the buying
power came from earliar
old property.
plz clearify all asked
in one private co.
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Answer Posted / manoj s
PURCHASES OF HOUSE IS NOT SUBJECT TO TAX.. BUT IF U
PURCHASED THAT HOUSE FROM THE SALE OF OLD PROPERTY.. THEN
IF U HAVE ANY GAIN FROM THAT PROPERTY UR SUBJECTED TO
CAPITAL GAIN.. IF U VE INCURRED A LOSS THEN.. U NEED NOT
PAY ANY TAX DURING THE CURRENT PREVIOUS YEAR
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