Tax saving or investment options from LTCG

POSTED BY Debashis ON November 5, 2012 10:40 am COMMENTS (2)

Hello Everybody,

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?

Rgds, Roy

2 replies on this article “Tax saving or investment options from LTCG”

  1. Dear Debasis, the arrangement may work fine, if you can manage to get possession of your new house within 3Y from the sell of old house. LTCG set off as well as Home Loan interest benefit, both ‘ll be available to you as set off ‘ll be under section 54 where as home loan interest ‘ll be under section 24(b).



  2. I think both these tihngs are seperate anyways .. you can claim the tax benefit on second house and the capital gains on first

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