Capital gain tax on sale of property

sachin jain (gdsh) (96 Points)

24 June 2014

what is the rate of income tax on sale of property

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4 Replies

HARDIK THAKKAR (FINAL CA STUDENT) (132 Points)
Replied 24 June 2014

20% for Long Term Capital Gain

Short term Capital Gain as per slab rates

i.e. for income between 200000-500000 10%

500001-1000000 20%

1000001 & above 30%

Mihir (Wealth Manager) (5293 Points)
Replied 24 June 2014

Property sold within 3 years attract STCG, and beyond 3 years attract LTCG.

Following info is required.

Year of purchase, cost of purchase, year of sale and price of sale to arrive at the capital gain.

sachin jain (gdsh) (96 Points)
Replied 24 June 2014

What is the full fom of STCG and LTCG and its meaning

Yogesh Goswami (Director) (39 Points)
Replied 29 June 2014

If the property is held less than 3 years then the gains are added to taxable income and taxed as per normal tax slabs.

More than 3 years, the capital gains tax would be eith 20% or 10% depending on wether indexation benefits are claimed or not.

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