Can I claim benefit under 54F if I sell my equity 1 year after taking the loan

Hi there,

I have bought a house & took loan while buying it. I recently got to know that I can claim tax benefit for LTCG assets under 54F.

My loan amount is 50 lac & property value is 70 lac, can I adjust LTCG against the entire value of house?
Thank you

Replies (1)

Under Section 54F of the Income Tax Act in India, you can claim an exemption on Long-Term Capital Gains (LTCG) if you invest in a residential house. 

You can claim exemption under Section 54F against the entire value of the house Rs.70 lacs, not just the amount you paid through loan or out-of-pocket. The exemption is available if you invest in a residential house property within the specified time liits (purchase within one year before or 2 years after sale of asset, or construction within 3 years after sale). 

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