POSTED BY February 4, 2014 9:18 pm ONE COMMENTON
I had booked a apartment in 2012 feb for 48 lakhs in a new project. The project is getting delayed and I intent to sell the property and go for a ready to move apartment. I have got an offer of 64 lakhs. I had taken a home loan of 42 lakhs and during the last two years I have paid 10 lakhs of interest and 2 lakhs of principle.
I had also paid a tax of 1.8 lakhs last September. I would be spending 1.7 lakhs to the builder while selling the property towards transfer charges. What would be my tax liability? Will the interest payout be added to the investment calculation?