Tax on Selling House.
This query is : Resolved
Querist : Anonymous
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.
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.
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.
Loss : may be adjusted against LT gain, or carry forward to next year.
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