Tax Q&A, October 23, 2017, Capital Gains From Property Sale, English
Date: 24-10-2017 Views: 890
In this video, we answer a question on capital gains from sale of property
Edited Highlights
0:21 In this video, we answer a question on capital gains from sale of property
0:55 Sam asks whether a real estate transaction of Rs 20 lakh or Rs 30 lakh, does one have to report it too the tax authorities?
1:10 You will need to report the transaction whether you make capital gains or loss
1:18 In income tax filing, it comes under the head of capital gains
1:25 If it is more than 2 years, you get inflation indexation benefits
1:32 Your acquisition cost gets enhanced by the inflation index
1:37 The long term capital gains tax rate is also lesser at 20%
1:45 As a result, you end up paying lower capital gains tax and lower income tax
1:59 If your holding period for the real estate is less than 2 years, all the capital gains gets added to your income
2:06 You pay tax according to income tax slab
2:14 If you have made a loss you can carry it forward in the subsequent years
