i am selling a land and buyer is going to RTGS 7 digit amount to my savings account. what are the tax implications and how do i show this as capital gain when filing tax
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Immovable asset sale - rtgs transfer to savings account - tax implication
Replies (2)
CG tax liability as usual, based on your transfer deed, period of holding the land, any exemption to be claimed by new investment etc.
Firstly, type of account (saving/current) in which consideration for sale is received; doesn't impact taxability.
Rest of the things as mentioned by Dhirajlal Ji in above comment.
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