LAW Courses
LAW Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Akarsh Goel (Lawyer)     05 August 2021


Is a tax given for property sold at market rate instead of collector rate comes under Income tax and if it comes, how much tax is payable. General discussion is going on.

 1 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     05 August 2021

on sale of immovable property like lands etc. comes under Capital gain. It can be defined as any profit that is received through the sale of a capital asset. Immovable properties are comes under capital assets. The profit that is received falls under the income category. Therefore, a tax needs to be paid on the income that is received. The tax that is paid is called capital gains tax.Calculation of tax can be followed in income tax website. 

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Post a Suggestion for LCI Team
Post a Legal Query