taxability on sale of property under tenancy rights/pagadi s

This query is : Resolved 

Querist : Anonymous (Querist) 28 April 2010

Say I am occupying a house on tenancy rights besis or more commonly known as pagadi system. I sell this house. What is the taxability scenario in this case?

Aditya Maheshwari (Expert)
28 April 2010

Sale of tenancy rights is taxable under the head capital gains.

B.Chackrapani Warrier (Expert)
28 April 2010

Tenancy right is a capital asset. Its transfer,therefore, attracts provisions of capital gains tax. Cost of acquisition has to be determined under section 55(2) (a) (i) or (ii) of the Income tax Act,1961.

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