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Income tax on sale immovable property
How to calculate income tax on sale of immovable property?
Replies (4)
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)
it's period of holding is 24 months (long term or short term)
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 .
Read : https://housing.com/news/long-term-capital-gains-tax-property-5-things-must-know/
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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