• Selling flat

Do I need to pay any kind of tax on the amount I get after selling my flat?
Asked 2 years ago in Property Law from New Delhi, Delhi
yes,capital gain
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations
3.5 on 5.0
if you buy another flat with that amount then you will be exempted for capital gain
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations
3.5 on 5.0
when did you purchase the flat ? what is the holding period ? your query is sadly lacking in details .
Ajay Sethi
Advocate, Mumbai
24772 Answers
1328 Consultations
5.0 on 5.0
what ratio do you have in black and white,for taking benefit of capital gain the amount has to invested within 3 years
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations
3.5 on 5.0
if you sell the flat and make some profits it will attract  capital gains . consult your CA before taking any decision
Ajay Sethi
Advocate, Mumbai
24772 Answers
1328 Consultations
5.0 on 5.0
Yes, you shall have to pay the tax on the capital gain only if the amount gained crosses the taxable limit,
Krishna Kishore Ganguly
Advocate, Kolkata
12723 Answers
262 Consultations
5.0 on 5.0
yes if you make capital gains then only you have to pay taxes
Ajay Sethi
Advocate, Mumbai
24772 Answers
1328 Consultations
5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Property Lawyers

T Kalaiselvan
Advocate, Vellore
15314 Answers
139 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
24772 Answers
1328 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18862 Answers
472 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12723 Answers
262 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5863 Answers
63 Consultations
4.9 on 5.0
Atulay Nehra
Advocate, Noida
524 Answers
18 Consultations
4.7 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2883 Answers
43 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
916 Answers
55 Consultations
5.0 on 5.0
Ajay N S
Advocate, Ernakulam
1954 Answers
19 Consultations
5.0 on 5.0
Thresiamma G. Mathew
Advocate, Mumbai
1323 Answers
89 Consultations
5.0 on 5.0