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Tax on Selling House.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2010 Hi ,

I am planning to sell my house to my brother.
What would be tax liability if selling with profit?

Any tax exemption if I am selling house with loss .. since i m in 30% slab.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
30 December 2010 profit - Capital gain is taxed , otherwise invest as per rule.

Loss : may be adjusted against LT gain, or carry forward to next year.
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