i have given power for a consideration and have purchased a flat for value more than the consideration i have recd. but the i have got bank loan for that flat paying balance from consideration i recd. i hink since i have purchased a flat for value more than the consideration i recd., i need not pay the capital gains. i don't have any other residencial flat other than this new one.
old land given for power around one lakh acquired in 1996-97 consideration recd. 17.5 l in jan. 2011 new flat 27.5 l( bank loan 14.6) in year mar. 2011
kindly clarify. arasu.. [email protected]
