Capital gains -1

This query is : Resolved

Quick Summary

A user is seeking advice on how to pay Capital Gains Tax (LTCG) on an apartment sale made in April 2025. They are unsure whether to pay the tax in full or in four installments as advance tax, especially as they will be a senior citizen by August 2025 and have no other income. The discussion also touches upon eligible improvement costs for indexation and potential tax discounts.

sundeep

sundeep (Querist)
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01 May 2025 I have made capital gains in April 2025 for the sale of an apartment for my daughter's marriage. Should I make the LTCG tax payment in 4 parts as advance tax or in full? Is there any compulsion to pay full tax? I am choosing Indexation with 20% tax. What other improvement costs can be considered, as I have no proof? Though a few modifications/rectifications were made in 2002 when the apartment was purchased.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2025 1. If you are senior citizen without any business/professional income, no need to pay advance tax.
2. otherwise in 4 installment.
3. If you have bank passbook proof, you can consider, otherwise difficult to sustain.

sundeep

sundeep (Querist)
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01 May 2025 I will complete 60 years in August 2025. No professional or business income. I am a housewife

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2025 So for the FY 2025-26, you are considered as senior citizen ......

sundeep

sundeep (Querist)
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09 May 2025 Am I eligible for 1.25 lakh discount for LTCG tax applicable in case above.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 May 2025 Not in case of 'sell of apartment'...