Loss on sale of property

POSTED BY Prasad Kulkarni ON July 22, 2012 3:20 pm ONE COMMENT

If I have sold my flat at a price lower than the CII adjusted price (after 3 yrs) for the FY in which it is sold then will this qualify for capital loss?
How should I declare this in my returns? How can I take benefit of this loss.
I am a salaried employee.

Kindly advice.

Thanks,
Prasad

One reply on this article “Loss on sale of property”

  1. Manish Chauhan says:
    July 22, 2012 at 7:11 pm

    Ok , I undestand that its a Long term Capital Loss, Just mention it while filing the return and you can adjust it with any Long Term Capital Gain in next 8 yrs. Like profit from Debt Funds , another real estate property or jewelery

    Manish

    Reply

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