I’ve shares and mutual funds in my portfolio. I don’t personal a home at present. I’m planning to purchase a house now.
I needed to know if, beneath the present tax guidelines, can I keep away from LTCG by reinvesting my income from sale of inventory/MF into my first dwelling?
naveenm31:
can I keep away from LTCG by reinvesting my income from sale of inventory/MF into my first dwelling?
Sure, you possibly can keep away from the LTCG tax by claiming exemption u/s 54F of the Revenue Tax Act.
Take a look at this text for an in depth understanding
Part 54F: Capital positive aspects will be invested a number of instances to purchase a brand new residential home property – Tax2win.
@Quicko can verify/add to this.
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