Dear Sir/Madam,
I sold my flat for Rs. 20 Lakhs. Could you please tell me do I need to pay tax for that amount. I am investing some amount in my startup company which is established on December 2013, for that purpose only I sold the property.
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Tax on property(flat) sold
Replies (2)
The capital gain derived from the sale of flat is liable to capital gains tax.
Means, tax on the profits in simple words!
It's come under capital gain.
Other wise This amount invest in property....
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