Hi Team,
Kindly advise the tax liability on priority sale ( Land ) details are given below.
Purchase value - 280000/-
Year of purchase - 31-Dec2011
Sale value - 3162000
Year of sales- 25- Dec 2025
Thanks & Regards
Hemendra Negi
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Tax on sale property (Land)
Replies (1)
Since the land was held for over 14 years, the gain is Long-Term Capital Gain. After indexation, the taxable gain is approximately ₹26.10 lakh, resulting in a tax of about ₹5.43 lakh at 20% plus cess. However, you can legally reduce this tax to zero by investing either in a residential house (Section 54F) or in capital gain bonds like NHAI/REC (Section 54EC) within the prescribed timelines.
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