What are the tax liabilities on selling commercial or residential properties?

tax liabilities on selling commercial or residential properties

What are the tax liabilities on selling commercial or residential properties? Many investors invest in real estate properties like commercial properties, residential houses or plots for 10 to 20 years and sell them to either to create retirement wealth or for child education or daughter marriage. However, there could be tax liabilities arising from buying and selling these commercial or residential properties. If you are not aware of them, you may be caught by the Tax Ombudsman and you may […]

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How to save income tax on long term capital gains?

How to save income tax on long term capital gains in India

How to save income tax on long term capital gains in India? During one’s lifetime, every individual sell and purchase many assets. However, when the assets change the ownership, it is obvious that some profit or loss would arise. At the time of sale of any asset, the gain that arises is a liable to be considered as a taxable income. It can be categorized either as a short-term capital gain or long-term capital gain depending on the duration the […]

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