Income tax on sale immovable property


Assistant Teacher

How to calculate income tax on sale of immovable property?
 
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sale of immovable property attracts capital gain from capital.asset (land aur building)
it's period of holding is 24 months (long term or short term)

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Accountant Tax Consultant

If you are selling  your  property this year (2019)  , then you have to find out  the value of your property  in the year  2001 from registered valuer   for indexation  and  capital  Gain  form property  for taxation . 

 
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Read : https://housing.com/news/long-term-capital-gains-tax-property-5-things-must-know/


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Accountant Tax Consultant

with reference to my reply  , I would  like inform you that  if your property purchase  before  2001  , then  only you have to find out  value of  property  in the year  2001 and if you purchase after 2001  then  you have use current indexation chart  for capital gain Tax .  

 
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