• Selling flat

Do I need to pay any kind of tax on the amount I get after selling my flat?
Asked 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
28618 Answers
1553 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
28618 Answers
1553 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
13980 Answers
310 Consultations

5.0 on 5.0

yes if you make capital gains then only you have to pay taxes
Ajay Sethi
Advocate, Mumbai
28618 Answers
1553 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
18795 Answers
176 Consultations

5.0 on 5.0

Ajay Sethi
Advocate, Mumbai
28618 Answers
1553 Consultations

5.0 on 5.0

Krishna Kishore Ganguly
Advocate, Kolkata
13980 Answers
310 Consultations

5.0 on 5.0

Ashish Davessar
Advocate, Jaipur
19896 Answers
521 Consultations

5.0 on 5.0

Devajyoti Barman
Advocate, Kolkata
7319 Answers
84 Consultations

4.9 on 5.0

Shivendra Pratap Singh
Advocate, Lucknow
3313 Answers
52 Consultations

4.9 on 5.0

Rajgopalan Sripathi
Advocate, Hyderabad
996 Answers
73 Consultations

5.0 on 5.0

Ajay N S
Advocate, Ernakulam
2070 Answers
24 Consultations

5.0 on 5.0

Shashidhar S. Sastry
Advocate, Bangalore
1338 Answers
75 Consultations

5.0 on 5.0

Kiran N. Murthy
Advocate, Bangalore
831 Answers
62 Consultations

5.0 on 5.0