Capital Gains from sale of property

Tax queries 450 views 2 replies

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?

Replies (2)
Need to buy in 2yrs or construct it within 3 yrs from date of transfer.
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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