Hey there,
In order to compute this in ITR, you first need to calculate the capital gains from the sale of your two old properties and the purchase of the new property. Calculating capital gains from a property is a simple task. I calculated my property’s capital gains with the help of the steps and the formula mentioned in the following answer.
How to calculate Capital Gains Tax? How to Calculate Long Term Capital gains on Property?Once you have calculated the capital gains, you can accordingly compute this in your Income Tax Returns mentioning the remaining amount on which the loan has been taken,
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The Income Tax Return (ITR) is a document that you must submit to the Income Tax Department of India. It comprises information on your earnings and the taxes that must be paid on those earnings throughout the year. You can compute this in ITR conveniently by reading the answer that I mentioned below. You just need to follow the process and compute it effectively.
Tap here to know how to calculate taxable income. Read More: What is Section 80gg of the income tax act? Income tax benefits on second home loan.
I had bought a house in the year 2019-2020 of 1.75 cr. For this I have sold 2 houses of amount 75 L and 64 L in the year 2020-2021. Rest amount is on loan. How do I compute this in ITR.
Ashlesha
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2022-04-01T10:21:35+00:00 2022-04-07T19:28:18+00:00Comment
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