Capital gain from resale flat


Hello Experts, I have sell my flat for X amount , the lawyer made agreement for Y amount which is less than X ( the actual sell value ) just to reduced the stamp duty charges to the purchaser , in this case I gain X-Y diff amount as benefit, Just wanted to know is their any tax on this amount, and how much. Appreciate your quick reply
 
Reply   
 
subregistrar/supdt.(retired)

Ji, tax is leviable on the difference amount.  However consult a local CA/Taxation lawyer.

 
Reply   
 



Thank a lot for quick reply . The flat is 10 + year old , in this case also tax applicable ? How much percentage plz let me know
 
Reply   
 
Lawyer in Hyderabad.Email:ramachary64@gmail.com

Capital gain calculations is having a formula. These calculations show the approximate capital gain taxes deferred by performing an IRC Section 1031 exchange with Asset Preservation, etc. Inflation index also take into consideration. 

 
Reply   
 

Thanks a lot Sir for the information !

 
Reply   
 

Please approach a Chartered Accountant for better guidance and handling the matter of Capital Gains and filing of your Tax Return for the year in which you sold the property.

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu