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This exemption is going to be reversed for those who promote this new home inside of 3 many years of its order or building OR if you purchase A further household house within two a long time with the sale of the original asset or construct a household property other than The brand new house inside three several years of your sale of the initial asset. Funds gains from your sale might be taxed as lengthy-term cash gains.

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The quantity presently incurred to invest in/development along with the total deposited inside the funds gains account scheme could be claimed as Price even though claiming the deduction.

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