Home / Finance / Taxes / In 2015 I registered an under-construction 2bhk flat paying 21 lakhs. An agreement of construction was done for the remaining 22 lakhs. I got possession on January 2016. Cost of acquisition was 4376000 + property tax + registration + interior = 5300000. I’m selling the property now at 77 lakhs. How will the tax be calculated? The base price be 21 lakhs or 53 lakhs?
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In 2015 I registered an under-construction 2bhk flat paying 21 lakhs. An agreement of construction was done for the remaining 22 lakhs. I got possession on January 2016. Cost of acquisition was 4376000 + property tax + registration + interior = 5300000. I’m selling the property now at 77 lakhs. How will the tax be calculated? The base price be 21 lakhs or 53 lakhs?

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0 2022-09-01T19:21:33+00:00
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Hi buddy,

I had a similar query, so I did some research and came across this great answer:

How To Calculate Long-term Capital Gain Tax On Property?

Here, here you will learn how to do the calculation of the long-term capital gain tax on the sale of property with the help of an example.

I suggest you consult a CA for better clarity.

Need Any Help in Drafting Sale Agreement/Deed? Then Take the Help of NoBroker’s Legal Experts

Read more:

How to Save Tax on Sale of Property

How to Save Capital Gain Tax on Sale of Residential Property?

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