How will the Cost of Acquisition & Capital Gains be calculated for a Property if a person has bought it in 2011-12 taking a Bank Loan for 20 years & sells after the Loan Repayment period is Over i.e. in 2031-32. (For Simplification purposes , let’s just consider that entire Property bought solely from Loan amount)
Details –
1)Loan Amount – Rs. 50,00,000
2)Tenure – 20 Years
3)Rate of Interest – 10 %
4)Monthly E.M.I. – Rs.48251.08
5)Property sold at Rs. 3,30,00,000 in 2031-32