suresh nagvekar 07 July 2017

Capital gains tax on sale of flat

i am having a small flat in mumbai which i have purchased ten years ago, now i want to purchase a bigger flat,but as it is difficult to find buyer for the old flat i wish to buy the new flat from my own funds and ther after sell the old flat within one or two years time . i wish to know if i will have to pay capital gain tax on amount recieved from sale of old flat

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4 Replies

Ms.Usha Kapoor (CEO) 08 July 2017

Facts ARE NOT SUFFICNET .GIVE FULL FACTS. yOU NEED DETAILS OF COST OF OLD FLAT ETC.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 08 July 2017

Please contact a good Tax Consultant or Chartered Accountant as these tax issues are quite tricky and may land you in trouble at a later date at which time you shall have no option but to pay a hefty sum as tax.