.....I want to pay loan of Rs 20 lakhs by selling a house which will be sold in Rs 25 lakhs. I have number of questions for which I want answers.. 1. If registry will be done in Rs 15 lakhs then will this money be white money and how can rest amount be taken that is Rs 10 lakhs. Can we take 10 lakhs in cash. And if we want to taken token money how it should be taken. Token amount will be Rs 6 lakhs. Do I have to give income tax on selling this property as we are selling it at loss of Rs 5 lakhs. 2. My question is how we can pay loan of Rs20 lakhs in the best manner. Will I have to give any tax if we pay the loan as I fall in 30% tax bracket. 3 what is the best way of selling this property in all white money. 4. If I want to pay Rs 20 lakhs by selling this property worth Rs 25 lakhs how it can done so that I can get maximum white money and save myself from giving tax if I am entitled to give.
Jun. 08, 2018