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How much tax and stamp duty will I pay on selling my house in India?

T S Khurana

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Tax Expert - Answered on Oct 15, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Akash Question by Akash on Oct 13, 2024Hindi
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my house indexed cost of acqusition (price ) is 50 lakh that bought 10 years ago that i am going to sell in 90 lakh but circle rate is 30 lakh what will be tax and stamp duty rule in india

Ans: 01. LTCG in this case would be Rs.40.00 lakhs (Rs.90.00 minus Rs.50.00 lakhs) & LTCG tax would be @ 20%.
02. Stamp Duty rule is a State subject & varies from state to state. Please verify the same from concerned registration authority of the state, where deed is likely to be registered.
03. With effect from 23.07.2024 you can also opt for LTCG with an alternative tax rate of 12.50%, without Indexation. Please check calculations under both options & decide.
Most welcome for any further clarifications. Thanks.
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