I recently sold my property for an Amount less than the addition of Buying price Plus interest paid for 10 years.... Will i be liable for LTCG still or do i need to file my claims for Tax exemption with details of Interest paid and Buying price ?

Ans: To calculate the capital gains on the sale of a property, you need to deduct the indexed cost of acquisition from the sale price. The indexed cost of acquisition is calculated by adjusting the purchase price for inflation using the Cost Inflation Index (CII) published by the Income Tax Department.

If the sale price of your property is less than the indexed cost of acquisition, then you will not have to pay any capital gains tax. However, if the sale price is more than the indexed cost of acquisition, then you will have to pay capital gains tax on the difference between the sale price and the indexed cost of acquisition.

In your case, if the sale price is less than the total of the purchase price and interest paid, then you may not have to pay any capital gains tax. However, it is still advisable to file your tax returns with the details of the transaction and the calculation of capital gains to claim any tax exemption or deductions that you may be eligible for.