Selling Property Tax Rules

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Selling Property Tax Rules:-

Long term Capital Gains on sale of real estate are taxed at 20%, plus a cess of 3%, if the sale fulfils certain conditions. If you sell a property that was gifted to you, or that you have inherited, you will still be liable to pay capital gains tax on it.
Is property sale amount taxable in India?
If a property is sold witin three years of buying it, any profit from the transaction is treated as a short-term capital gain. If you sell after three years, the profit is treated as long-term capital gains and taxed at 20% after indexation.
Do I need to pay tax when I sell my house?
In NSW only buyers have to pay stamp duty on the sale of a property. However, there may be other taxes you'll need to pay, particularly if you're an investment property. GST doesn't generally apply to the sale of residential property. However, you don't usually have to pay CGT onthe sale of your own home.

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