Income tax calculator: Buying a home is one of the important financial decisions of an earning individual. Sometimes, an individual sell out some other important assets like stocks, gold, mutual funds etc. to buy home. However, on booking profit or selling an asset attracts income tax in the form of long term capital gain (LTCG) tax. However, income tax department allows LTCG tax exemption in certain conditions. For example, if a homebuyer sells out gold to buy a new house or construction of a new house property.