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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.
Property bought at Rs 1,50,000.
Property sold at Rs 1, 90,000.
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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Akanksha Shukla (law graduate)
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2025-01-31T10:39:55+00:00 2025-01-31T10:40:02+00:00Comment
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