POSTED BY November 5, 2012 10:40 am COMMENTS (2)ON
I am planning to sell a property which is 10yrs old. This selling time may take 6 -9months and expecting a significant amout of capital gain. Recently I have booked a flat (2nd house) and taken loan 80% of flat value. Expected possession time 2yrs.
can I clame for tax benefit for both i.e. LTCG and interest on loan?
If I do part payment of loan after 2.5yrs (part payment possible after 6 EMI), can I get this tax benifit also? Should I delay the property selling further or can i eligible for 3rd house also? As I know 3rd house will come under wealth tax.
Can anybody help to clear my enquiry?