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Capital Gain basis property circle rate

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garima

Homemaker

67 Points Posted on 05 August 2023

Hello everyone,

I purchased a property at Rs 10 lakhs a few years ago, the indexation value of the same is now Rs 30 lakhs. I intend to sell the property (basis the offer I have) at Rs 55 lakhs. The circle rate of the property is Rs 65 lakhs.

Will I be subject to capital Gain tax in this case ??

Regards

Garima

Replies (4)

Quick Summary

This discussion explores whether capital gains tax applies when selling a property. The user purchased a property for Rs 10 lakhs, which has an indexed value of Rs 30 lakhs and is now being sold for Rs 55 lakhs. The property's circle rate is Rs 65 lakhs. Participants confirm that capital gains tax will likely apply, as the sale price exceeds the indexed cost of acquisition.