Want to buy a house by redeeming mutual fund investments? Income tax rules explained
I am considering buying a residential apartment by investing the redemption proceeds from my mutual fund investment. Will I be eligible for the capital gains exemption if I reinvest the redemption proceeds for the purchase of the second residential apartment because I already have a residential house in my name? What is the period of investment in residential real estate from the date of redemption of the mutual fund? Can I apply for this exemption again if I had already applied for an exemption earlier for the purchase of the first home?