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Will I face Capital Gain Tax on selling my flat bought in 1999?

T S Khurana

T S Khurana   |367 Answers  |Ask -

Tax Expert - Answered on Jan 13, 2025

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
Asked by Anonymous - Jan 11, 2025Hindi
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Sir, I purchased a flat in 1999 for 3 Lakhs, now in 2025 I am going to sell it for 35 Lakhs. Will there be any Capital Gain Tax on it?

Ans: 01. Yes. This transaction would be subject to Capital Gain Tax.
02. Under present provisions of Income Tax Act, you may opt any of the options (in case of Long Term Capital Gains), as under :
(a). Tax Rate 12.50% without indexation or
(b). Tax Rate of 20% with Indexation.
03. You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
04. Most welcome for any further clarifications. Thanks
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - Dec 31, 2024Hindi
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I've joined offline PW coaching this year and having no guidance at all i didn't knew the ground reality of coachings and stem subjects. I've already spent 1 lakh for 2 year course and now coaching is just draining and managing it with school where coaching is not helping at all even tho they're tied up with the school which is resulting in backlogs. I'm unable to manage self study time to actually focus because if my basics aren't clear then how am I supposed to do the advanced ones. I'm thinking to leave the coaching, there's also a lot of pressure and demotivation from parents as they think I'm the one causing the problems but if I had known about it then I wouldn't have chosen coaching at all, I don't have any issues with the subjects I chose for me as I do I want know and learn them but not this way with issues where even the teachers are not supportive
Ans: Assess the Value: Reflect on whether the coaching sessions are enhancing your understanding of subjects or if they're contributing to confusion and backlogs. If the latter is true, it may be worth reconsidering your enrollment.

Discuss with Stakeholders: Communicate your concerns with your parents and, if possible, the coaching administration. They might offer solutions such as adjusted schedules or additional support.

You can do self study with the help of online material. PW and khan academy have free online martials. In my opinion self study is the best way of learning. On an average you have study 8 to 10 hours per day.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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