Capital Gain basis property circle rate

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Homemaker
67 Points Joined June 2011

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

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On 05 August 2023 at 20:46 Report
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Chartered Accountant
24588 Points Joined November 2019
Yes Capital Gains will attract
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On 05 August 2023 at 22:41
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28014 Points Joined May 2017
Any transfer of capital asset , capital gain arises depending on the tenure of holding.
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On 06 August 2023 at 07:55
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Chartered Accountant
24588 Points Joined November 2019
Yes...
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On 06 August 2023 at 09:42
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28014 Points Joined May 2017
But the rate of the house property equals fair market value or others.
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On 10 August 2023 at 12:48


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