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
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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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