Avin (Manager) (34 Points)
26 August 2016Dear Sir/Madam,
I sold my flat for Rs. 20 Lakhs. Could you please tell me do I need to pay tax for that amount. I am investing some amount in my startup company which is established on December 2013, for that purpose only I sold the property.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182355 Points)
Replied 26 August 2016
The capital gain derived from the sale of flat is liable to capital gains tax.
Means, tax on the profits in simple words!
sunny
(accountant)
(27 Points)
Replied 27 August 2016
It's come under capital gain.
Other wise This amount invest in property....
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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