Capital Gain Tax on residential flat
This query is : Resolved
Daisy Rani
(Querist)
13 January 2024
I have booked a flat Jaypee wishtown Noida in 2010 for basic cost of Rs 47.5lakh. Subsequently, in betwen payment GST made applicable. Till date I paid approximately 49lakh in phases till 2017.(Say equal amount each year for simple calculation)
It is still not complete. I want sell it for appx 100lakh. What will be in incom tax liability.
It is still not complete. I want sell it for appx 100lakh. What will be in incom tax liability.
CA R SEETHARAMAN
(Expert)
14 January 2024
20% capital gains tax with cess of 4% payable after deducting indexed cost of 49 lacs from 100 lacs.
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