I am Nirmala Patel. I am purchase a residential plot on 21-07-2022 value Rs. 766700 and sales obove plot on 30-08-2026 value Rs. 1550000 and paid commission Rs. 68500. and same date we have purchase a new residential plot value Rs. 1200000 and registry exp. Rs. 78000. I am house wife and other income is nil. please answer what we have liable for capital gain tax and how much amount is to be payable.

Ans: You have provided the important dates and amounts clearly. Based on the details given, this is a long-term capital gain transaction. Since the plot was purchased in July 2022 and sold in August 2026, the holding period is more than 24 months.

» How the transaction is viewed

Purchase date: 21-07-2022
Purchase cost: Rs 7,66,700
Sale date: 30-08-2026
Sale value: Rs 15,50,000
Brokerage/commission paid on sale: Rs 68,500
New plot purchased on the same date: Rs 12,00,000
Registration expense for new plot: Rs 78,000
Since the original plot was held for more than 24 months, the gain is treated as long-term capital gain.

» Important tax benefit available to you

There is a useful point in your case because you purchased the original plot before 23 July 2024.
For a resident individual, the tax rules provide a comparison for such immovable property acquired before 23 July 2024: the taxpayer can get the benefit of the lower tax outcome between the 12.5% rate without indexation and the 20% rate with indexation. The Income Tax Department's current return rules specifically recognise this comparison for residents.
In your case, the indexed method appears more beneficial based on the information you have given.
Therefore, I would not simply calculate the tax at 12.5% and pay it. The indexed option should be considered while filing the return.

» Approximate capital gain position

After considering the Rs 68,500 sale commission as a transfer expense, your capital gain is much lower than the headline difference between Rs 15.50 lakh and Rs 7.67 lakh.
Using the applicable cost-inflation benefit, the long-term capital gain works out to roughly Rs 5.80 lakh, assuming Rs 7,66,700 is the complete acquisition cost and there are no other eligible purchase expenses.
At the 20% indexed rate, the basic tax on this amount is roughly Rs 1.16 lakh before considering the basic exemption available to you.
Since you have stated that you are a housewife and have no other income, this point becomes very important.

» Your nil other income can reduce the tax

If you are a resident individual and genuinely have no other taxable income, the unused basic exemption limit can generally be adjusted against long-term capital gain.
Therefore, your final tax should be lower than the simple Rs 1.16 lakh figure.
On the facts given, the tax could be roughly around Rs 37,500 including 4% cess under the indexed method, subject to confirmation of your residential status, exact acquisition expenses, stamp-duty value and other income.
So, please do not pay Rs 1.16 lakh simply based on the capital-gain amount. Your total income position needs to be considered.

» What about the new plot purchased for Rs 12 lakh?

This is the most important point in your question.
Merely purchasing another residential plot for Rs 12 lakh does not automatically give you a capital-gain exemption.
The exemption under Section 54F is linked to purchase or construction of a residential house, not merely purchase of a vacant plot. The law allows purchase of a residential house within the specified period or construction of one within three years, subject to the other conditions.
Therefore, the Rs 12 lakh plot purchase and Rs 78,000 registration expense cannot simply be deducted from your present capital gain as a Section 54F exemption.

» There is still a possible planning opportunity

If your intention is to construct a residential house on this new plot, the position can be different.
Section 54F permits construction of one residential house in India within three years from the date of transfer, subject to the conditions of the section.
Your sale date is 30-08-2026.
Therefore, the construction timeline becomes important.
If you genuinely construct a qualifying residential house within the prescribed period and satisfy the other Section 54F conditions, exemption may be available.
The cost of the residential house can then be considered for the exemption, subject to the detailed rules.
Simply keeping the plot vacant will not be enough.

» One important condition to check

Section 54F has conditions relating to ownership of other residential houses.
In particular, the exemption can be restricted if the taxpayer owns more than one residential house, apart from the new asset, on the date of transfer.
So I would need to know whether you already own any residential house or flat in your name.
This is important before claiming any Section 54F benefit.

» Your purchase expenses can also matter

You have mentioned the original purchase value as Rs 7,66,700.
If you had paid stamp duty, registration charges or other eligible expenses at the time of purchasing the original plot, those should be checked.
Such eligible acquisition expenses can increase the cost considered for capital-gain purposes and may reduce the taxable gain.
Please keep the original purchase deed and payment receipts safely.

» Check the stamp-duty value of the sale

Another important point is the stamp-duty value of the plot on 30-08-2026.
For immovable property, the tax calculation may be affected if the stamp-duty value is materially higher than the declared sale consideration.
Therefore, I would compare the Rs 15.50 lakh sale price with the stamp-duty value mentioned for registration.
If the stamp-duty value is higher, the final capital gain calculation may change.

» What I would suggest you do now

Do not treat the Rs 12 lakh new plot purchase as an automatic tax-saving investment.
Keep the sale deed, purchase deed, commission receipt and new plot registration documents.
Confirm the stamp-duty value of the old plot on the sale date.
Confirm whether there were any registration/stamp-duty expenses when you bought the old plot.
Confirm whether you own any other residential house.
If you intend to construct a house on the new plot, maintain all construction payments and documents properly.
For the final ITR, have the indexed calculation and Section 54F eligibility checked together.

» My assessment

Your capital gain is relatively modest, and your nil other income is favourable from a tax calculation point of view.
The indexed method appears to be the better route based on the information provided.
The new plot purchase by itself does not remove the capital gain.
If you construct a qualifying residential house on the new plot within the prescribed period and satisfy Section 54F conditions, there may be an opportunity to reduce or eliminate the taxable capital gain.
So, before paying the tax, I would get the Section 54F position checked properly. This could make a meaningful difference.

» Final Insights

Based purely on the information given, I would provisionally keep around Rs 40,000 as the likely tax outgo, including cess, rather than assuming a tax of Rs 1 lakh or more.
But this is not the final tax figure until we check your original purchase expenses, stamp-duty value, residential-house ownership and whether you plan to construct a house on the new plot.
If you tell me these 4 things:

– Whether you own any house/flat in your name

– Stamp-duty value of the old plot on 30-08-2026

– Registration/stamp-duty expenses paid when you purchased the old plot in 2022

– Whether you plan to construct a house on the new Rs 12 lakh plot

I can give you a much more precise assessment of whether your capital-gain tax can be reduced further and what you should do while filing the return.

Best Regards,

K. Ramalingam, MBA, CFP,

AMFI-Registered MFD – ARN 4188

www.holisticinvestment.in/

https://www.linkedin.com/in/ramalingamcfp/