Express Money: Ask Us

If you choose to use the capital gains from selling your existing property to buy a residential property,you will not be taxed and there is no tax liability from such a sale. This is clearly mentioned under Section 54F of the Income Tax Act. It states that “capital gains on transfer of certain capital assets not to be charged in case of investment in residential house.”

I think it is a good opportunity to invest in stock markets. Can I withdraw cash on my credit card for trading in the stock market?

—Rituparna Bannerji,Kolkata

No,you are not allowed to borrow any fund source for speculative purposes of any kind,including investing in the stock market. You can still go ahead and take a personal loan or withdraw cash from your credit card for such activities. But if you do that,please bear in mind that you are not expected to do so in the first place. In fact,this is a dangerous practice and can lead you into a spiral of debt. Personal loans carry a very high interest and withdrawing cash on your credit card is a big no for any kind of expenditure as the interest rates are even higher and increase your debt liability manifold.

I have invested in a property which will be ready by the end of 2014. How safe is my money in case the builder goes bust?

—Ravi Chitkara,Delhi