Selling Property In India

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A. If ine is selling the property within 2 years (changed from 3 years after Budget 2017) of purchase, then short term capital gains tax will be applicate and selling after 2 years makes the long term capital gains tax applicable. B. Takes on short term capital gains are based on an individual's income slab. 


Do I need to pay tax if I sell my property in India? 

If you're selling a property in India,the profits you earn are called Capital Gains. Whether these Capital Gains will be taxed is entirely up to the person receivng the benefits of a profit from sale, as he can choose to invest it in the given time frame and save himself from taxation on Capital Gains. 


How much tax do I pay on sale of property in India?

Property sold in India is generally subject to tax deduction. The person buying the property must deduct taxes at the rate applicable to the NRI's income slab, if the property is a short term asset. If the property is a long term asset, 20% LTCG tax applies.


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