tax on property sale

In India, the Tax Deducted at Source (TDS) provisions under the Income Tax Act apply to the sale of property. These provisions ensure that the government collects tax at the time of the transaction, rather than waiting until the seller files their income tax return. Whether it’s residential, commercial, or any other type of property, TDS provisions vary slightly, but the basic concept remains the...

When you sell a property in India, the profit you make is classified as either short-term capital gain (STCG) or long-term capital gain (LTCG), depending on the holding period of the property. The tax treatment of these gains is significantly influenced by whether the sale happens under the new tax regime, which was introduced in the Union Budget 2024. Let's break this down with examples to help you...