To save or set off LTCG tax, the seller should purchase a residential house either 1 year before the date of sale/transfer or 2 years after the date of sale of long-term held capital assets like mutual funds. Does the Home loan repayment or EMI payment done within this specified period also be considered as the payment towards a new residential house or not.. in case any LTCG arises within this period can we setoff against the home loan payment or not.
Save tax on LTCG under section 54 on new house home loan repayment or EMI
Nitin (manager) (23 Points)
21 December 2023