Dear Friends,
My younger brother bought a flat in June 2009.
-Downpayment =225000
-Loan = 1150000
– Total cost of property = 1375000
– Current value of property =3000000
-Pricipal paid till now =23000
– Intrerest paid = 375000
He is not going to buy a flat in near future.
Now he belong to 10% taxing slab. Please help me in calculating the tax liabilities. I tried to search the forum and got several cases like mine but got very confused with indexation things. So please help.