- I, a retired Army Officer aged 69 years and in receipt of Disability pension, jointly own, alongwith my daughter, a flat in delhi purchased in 2004 for 20 lacs.
- Both wish to sell it now.
- Current value @ circle rate of the flat is 92 lacs.
- We are being approx 3 crores @ the market rate.
- How much will it attract as long term capital gains tax (LTCG)
- What is your suggetions to optimise/minimise the LTCG tax. How can we accomplish this
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LTCG Tax on property
Replies (1)
Whichever is higher, Market Rate [Registration amount] or Circle Rate would apply for calculation of LTCG.
So prepare accordingly.
Regarding minimizing the LTCG Tax, explore in this Forum or on the web and you will get the info about various options. Select the option that best suits you.
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