LTCG tax exemption + date of possession + home loan repayment

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This discussion explores Capital Gains Tax exemption for a residential plot sale. The user is seeking clarification on whether the 'date of possession' or 'date of registration' should be used for LTCG tax exemption, given the property is still under construction. Additionally, the user wants to know if home loan principal payments made before possession can be considered for tax exemption.

Dhirendra Trivedi

Dhirendra Trivedi (Querist)
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28 September 2024 Flat purchased from builder
Date of Registration - Mar-2023,
Expected RERA date of possession - Dec-2025

While date of registration is Mar-2023, property is still under construction

Current Home Loan (before possession) has been taken to pay the builder
I plan to sell a residential plot say that materializes in Jan-2025 or Feb-2025

I have 2 queries :-
1. Can date of possession be considered for exemption on LTCG tax (as property though registered is not under my possession) for LTCG tax exemption of residential plot.

2. Can home loan principal payment will be considered for exemption on LTCG tax

Please advise