How much is tax on sale of immovable property ?

the tax on long term property sale is 20.6% of capital gain.

In the present case, the tax shall be 20.60% of (20lacs-10lacs*)

the cost of 10 lacs shall be increased by the cost of inflation index of government.

Thanks and regards

Mohit Gupta

9871084875

if you bought your property 5 year back and sold now and you get 10 lacs profit ,as per rule of capital gain 10 lacs divided by 5 and it comes 2 lacs .it will be treated as your income increase by 2 lacs per year and then the tax assessment made accordingly .

Tax depends upon time duration between purchase and sale of property:

Long term capital gain: Duration more than 3 years; tax would be 20% of profit

Short term capital gain: Duration less than 3 years; tax would be 30% of profit.

As per your example:

Tax would be 2lacs; as its a long term gain on profit of 10lacs.

Note: Tax is calculated on govt. registry rates i.e. white money.