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Interim Budget has benefits for property sellers, more savings on 2nd home

Besides LTCG tax relief, permitting taxpayers to declare two houses as self-occupied brings a huge relief.

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Budget 2019  |  Interim Budget 2019

Tinesh Bhasin 

The rationalisation of property-related taxes is the most significant sop that stand-in Finance Minister Piyush Goyal offered in his Interim Budget. Now, an individual can declare two houses as self-occupied instead of just one earlier. Also, on selling a house property, a taxpayer can invest the proceeds in two houses and still get the long-term capital gains (LTCG) tax benefit.

Earlier, the benefit was available for only one house. The caveats when claiming the LTCG benefit is that the total capital gains have to be up to Rs 2 crore. Also, the benefit can be claimed only once in a ...

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First Published: Fri, February 01 2019. 22:06 IST