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Q.

What is the quantum of income tax on the sale of a property purchased in April 2022 at Rs 1,50,000 and sold in January 2025 at Rs 1,90,000?

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27 days

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Since the property was purchased in April 2022 and sold in January 2025, the holding period is more than 24 months. Therefore, the profit will be taxed as long-term capital gain (LTCG) under the Income Tax Act, it will be taxed at 12.5% without indexation benefits. 

  1. Property bought at Rs 1,50,000.

  2. Property sold at Rs 1, 90,000.

  3. LTCG will be applicable on 1,90,000-1,50,000 = Rs 40,000.

I hope you found the above information helpful.

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