Property sale and taxation

[sekarraja]

If the property exists in the name of a non-earning member of the family, and it is sold, Can the 5 Lakh / 7 Lakh tax slab applicable for income be deducted from capital gains? or Income out of Capital gains from the sale of the property cannot be considered in the income tax slab calculation?

 

[Crazy_Eddy]

Can the 5 Lakh / 7 Lakh tax slab applicable for income be deducted from capital gains?

2.5L / 3L / 5L depending on age group in the old tax regime.
2.5L for all ages in the new tax regime.
Tax rebate for 5L/7L is only if your total income is under 5/7L.

You can check this on the tax calculator : https://eportal.incometax.gov.in/iec/foservices/#/TaxCalc/calculator

 

[TEUser2K1]

How to save CAPITAL GAINS TAX on sale of Plot / Flat / House?

How to save / minimize Long Term CAPITAL GAINS TAX on sale of Plot/ Flat/House? How to calculate Long term or Short Term Capital gains on sale of a property?

www.relakhs.com

 

[dissel]