I am planning to sell my flat today which was purchased in 2016 December. The flat was taken on home loan in 2016. I knowI will have to pay LTCG tax, but I wanted to know whether benefit taken under home loan for 80C and section 24 for last 3 years will be reversed? or not? What will happen to PMAY benefit that I got for 2.5 lacs?
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LTCG Tax and Home Loan Tax Concerns
Replies (1)
Benefit of section 24 and 80 is not subjects to any lock in period. So benefits availed by will not be required to reverse . And subsidy availed by is capital receipt for capital asset so it should be reduced from cost of acquisition.
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