• Selling flat

Do I need to pay any kind of tax on the amount I get after selling my flat?
Asked 3 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
27221 Answers
1480 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
27221 Answers
1480 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
13560 Answers
291 Consultations
5.0 on 5.0
yes if you make capital gains then only you have to pay taxes
Ajay Sethi
Advocate, Mumbai
27221 Answers
1480 Consultations
5.0 on 5.0

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