Menu
property tax
If u sell a property worth 80 lakhs how much tax should be paid and what tax can be avoided if I utilize that money to buy another property
Replies (2)
Yes, if you purchase/construct new house property from the capital gains received by you, from the sell of property worth 80 lakhs......... you can save on long term capital gains tax u/s. 54 of IT act, provided the old property was held for 2 years or more. (As of now long term capital gain is taxed at 20.6% with cess)
Auround 10 to 20% of the tax has to be paid.
Recent Topic
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
Related Topics
CAclubindia
