Capital Gains from sale of property

Tax queries 364 views 2 replies
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software engineer
44 Points Joined November 2017

I bought a flat for 44L in 2012. 

Now I am planning to sell it for 90L in 2020.

1) Within what period of the sale, I need to invest in another property so that I dont have to pay capital gain tax?

2) Also, How to calculate the tax liability for this sale?

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On 09 February 2020 at 09:43 Report
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Studwnt
1141 Points Joined February 2016
Need to buy in 2yrs or construct it within 3 yrs from date of transfer.
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On 09 February 2020 at 10:28
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453 Points Joined November 2019
You can either purchase 1yr before sale or 2 yrs/3yrs after sale, purchase or construct respectively...

net LTCG will be taxable @ 20% n rest of your GTI(net of LTCG) shall be taxable @ applicable slab rates.

Hope this helps.:-)
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On 10 February 2020 at 00:30


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