Mirror Now
@mirrornow·2.2M subscribers·145K videos
What is the tax liability on selling land?- Property Hotline
Posted
December 22, 2016
Views
3,388
Likes
10
Comments
1
Engagement
0.32%
December 22, 2016
3,388
10
1
0.32%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
3:35Now PlayingExpert: Suresh Surana, Founder, RSM Astute Consulting.
Question: I've got 3 acres of land. I want to sell it and I have an offer from a joint venture. Developers are saying I have to pay taxes. They are giving caution deposit. So what is the liability? Would it be better if I give it for outright sale instead? Will I have to pay taxes?
Answer: If you are holding this land for more than 3 years then it becomes long term assets. You pay tax at lower rate i.e. 20%. You get benefit of indexation. You also have the option to reinvest into another property and get benefit u/s 54F / 54EC. Or you can invest in bonds upto Rs 50 lakhs. In case of joint venture with developer capital gain tax triggered on conversion of capital asset into stock in trade. Tax will be payable when developed flats are actually sold. This will raise business income.
Be Un Confused
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
