Is it taxable if you sell your house? (Tamil) | Ways to Avoid Taxes | Capital Gain Tax

It feels great to get a high price for the sale of your home, but watch out for the tax implications. Is it taxable if you sell your house? Yes, that’s because capital gains on selling the property are taxable.
If you sell a residential property or land after holding it for more than two years, you are liable to pay a long-term capital gains tax of 20 percent after indexation. So, if you make a gain of Rs. 50 lakh, you may end up paying Rs 10 lakh as tax. However, you can very well save this significant tax outflow.
An assessee can re-invest the long-term capital gains amount in residential house property and claim an exemption under section 54 & 54EC of the income tax act.
Watch this Tamil video‪@SMEDUTALK‬ to know about capital gain tax and all possible ways to avoid taxes. It is explained in detail as to how the exemption works and what all you need to be careful about;
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[@viju1954]

What will be the situation with new budget today - july 2024

[@SMEDUTALK]

Short-term Capital Gains (STCG) Tax: The STCG tax remains unchanged and is taxed at the applicable slab rate. The gain is added to the taxpayer’s income and taxed accordingly. Long-term Capital Gains (LTCG) Tax: The LTCG tax rate has been reduced to 12.5% without indexation benefit. Earlier, the rate was 20% with indexation benefit. The holding period for determining whether the gain is long- or short-term remains unchanged at 24 months. முக நூலில் விநாயக முருகன் என்பவர் இதற்கான விளக்கத்தை அளித்துள்ளார். அதை இங்கு பகிர்கிறேன். கேள்வி-1:- நேற்று வெளியான பட்ஜெட் அறிவிப்பில் ரியல் எஸ்டேட் LTCG (Long Term Capital Gain) மீதான வரியை 20% லிருந்து 12.5% ஆக குறைத்துள்ளார்களே. இது நல்ல விஷயம்தானே? பதில்:- நேற்று முன்தினம் வரை வீடு விற்பவர்களுக்கு indexation benefit இருந்தது. அதை எடுத்துவிட்டார்கள். indexation benefit என்றால் நீங்கள் வீடு வாங்கிய வருடத்திலிருந்து விற்கும் வருடம் வரை (ஒரு வருடத்துக்கு மேலாக இருக்க வேண்டும்) உள்ள பணவீக்கத்தை கணக்கிட்டு அதை வரியிலிருந்து கழித்து மீதம் உள்ள தொகைக்கு வரி கட்டினால் போதும். இதான் சரியான வழிமுறை. உதாரணத்துக்கு நான் இந்தாண்டு ஐம்பது லட்சம் கொடுத்து ஒரு வீடு வாங்குகிறேன். ஒரு வருடம் கழித்து அடுத்த ஆண்டு வீட்டை விற்கிறேன். அடுத்தாண்டு வீடு எழுபது லட்சமாக உயர்ந்துள்ளது. பணவீக்கம் ஆண்டுக்கு 8% என்றால் வீட்டை விற்கும்போது இந்த 8% பணவீக்கத்தை கழித்துவிட்டு மிச்சமுள்ள தொகைக்குத்தான் வரி கட்டணும். பணவீக்கத்தை கட்டுப்படுத்துவது என்னோட வேலை இல்லை. அது அரசின் வேலை. நான் ஒரு முதலீடு செய்கிறேன். அந்த முதலீட்டில் நாட்டின் பணவீக்கம் பாதிப்பு ஏற்படுத்தினால் அந்த இழப்பை நான் ஏன் ஏற்க வேண்டும். அரசுதான் அவர்கள் எனக்கு விதிக்கும் வரியில் அந்த இழப்பை கழிக்க வேண்டும். இந்த உதாரணத்தைப் பாருங்க பழைய indexation benefit வீட்டை நான் வாங்கிய விலை : ₹50 லட்சம் Cost Inflation Index (CII) முறையில் தற்போதைய மதிப்பு : ₹64,82,000 வீட்டை விற்கும் விலை:- 70 லட்சம் நிகர லாபம் ₹5,18,000 (₹70,00,000- ₹64,82,000) LTCG வரி : ₹1,03,600 (20% வரி ) நேற்று அறிவித்த புதிய வரி முறை வீட்டை நான் வாங்கிய விலை : ₹50 லட்சம் வீட்டை விற்கும் விலை:- 70 லட்சம் நிகர லாபம் ₹2000000 LTCG வரி : ₹2,50,000 (12.5% வரி ) இப்படி செய்வதால் கருப்புபணம்தான் அதிகரிக்கும். வீட்டை விற்கிறவங்க எல்லாரும் குறைந்த லாபத்துக்கு விற்ற கணக்கு காட்டி மிச்சத்தை கருப்பில் வாங்குவாங்க.

[@rameshnatarajan9611]

.. கஷ்டம் வரும்போது ஒருத்தன் வீட்டை விற்கிறான்... அதுக்கு அவனுக்கு வரி... இது தப்பு...

[@rmt8428]

ஒருவன் உழைத்து சம்பாதிக்கின்ற பணத்தை பல வழிகளில் வரி போட்டு பிடுங்கும் அரசாங்கம் ஒரு நாள் அவன் வேலை இழந்து வருமானம் இன்றி இருக்கும்போது அவனுக்கு உதவுவதில்லை

[@manimudi8617]

You are 100 percent correct,the Rulers taking money from poor people and give huge benefits to big cheaters like choksi and mallaiah

[@thevaparvathamministries1282]

Modi yin velai

[@a.shanmugavelayutham1706]

நியாயமான கேள்வி. ஆனா இது மோடிகாலத்துக்கு முன்பிருந்தே இருந்து வருகிறது

[@cinefan555]

​@@thevaparvathamministries1282 no this was the rule before modi came he may have increased the tax

[@aruchamygounder1678]

விரிவாகவும் , விளக்கமாகவும் கூறினீர்கள். மிகவும் நன்று வாழ்த்துக்கள்.

[@SMEDUTALK]

மிக்க நன்றி

[@marimuthumanoharan4792]

You have clearly briefed this for the sake of public's benefit. This will help the innocent people and have no knowledge about the Investment to avoid tax impact. Thanks for your kind information.

[@SMEDUTALK]

My pleasure. Glad it was useful to you.

[@shajsalim3208]

சகோதரர் புரியும்படி வெளக்கமாக சொல்லீயதற்கு நன்றி

[@SMEDUTALK]

உங்களுக்குப் பயன்பட்டதில் மகிழ்ச்சி.

[@gunasundari7415]

Arumayana vilakkam. Thank u so much. Nice information.

[@SMEDUTALK]

மிக்க நன்றி!

[@swaminathanganesan6213]

அதல்லாம் சரி அவர் இந்த லாபத்தை ஒரே வருடத்தில் சம்பாதிக்க வில்லையே பத்து வருடங்களுக்கு சம்பாதித்தது என்று ஆகும். எப்படி ஒரு வருடத்தில் சம்பாதித்த தொகை லாபம் என்று எடுத்துக்கொள்ள முடியும்?

[@SMEDUTALK]

ஒரு சொத்தை விற்காமல் அதனை மதிப்பிடும்போது கிடைக்கும் லாபம் UNREALISED PROFIT என அழைக்கப்படுகிறது. இந்த லாபத்தை பார்த்து நீங்கள் சந்தோஷப்பட்டுக் கொள்ளலாம். ஆனால், அனுபவிக்க முடியாது. அதனால் அதற்கு வரியும் கிடையாது. ஒரு சொத்தை விற்று அதன் மூலம் கிடைக்கும் லாபம் REALISED PROFIT என அழைக்கப்படுகிறது. இதைதான் நீங்கள் அனுபவிக்க முடியும். இதற்கு வரியும் கட்ட வேண்டும். SO, சொத்தை எந்த வருடத்தில் விற்கிறீர்களோ, அந்த வருடத்தில்தான் லாபம் கிடைக்கும். அந்த வருடத்தில்தான் வரியும் கட்ட வேண்டும்.

[@rajadurainadar7099]

மிகவும் பயனுள்ள தகவல். மிக்க நன்றி.

[@SMEDUTALK]

உங்களுக்கு உதவியதில் மகிழ்ச்சி.

[@boopathyshanmugams]

THANKS. GOOD INFORMATION FOR THOSE WHO ARE SELLING THEIR PROPERTIES. I NOT ABLE TO UNDERSTAND WHY IT WAS DISLIKED BY 16 VIEWERS!

[@SMEDUTALK]

Glad it was useful to you. I think, it wasn't useful to those 16 viewers. That's why, they disliked the video.

[@dmanimani4809]

Any information told should be authoritative with reference to central government Notification or Income tax Act provisions.

[@SMEDUTALK]

@@dmanimani4809 Noted

[@mohansankar1815]

Well-said sir. Thank you very much. What about selling of an old ancestral property by an undivided HUF members? Whether the income comes to their legal heirs will be taken into account for tax purpose? An explanation is highly required sir,

[@SMEDUTALK]

I am not a legal or financial advisor, but I can provide some general information on this topic. In the case of selling an old ancestral property by an undivided Hindu Undivided Family (HUF), the tax treatment and whether the income will be considered for tax purposes can depend on various factors, including the nature of the property, the manner of its acquisition, and the status of the HUF. Typically, ancestral property refers to property that has been inherited for up to four generations, and it is considered joint property of the HUF. The income or gains arising from the sale of ancestral property can be treated as the income of the HUF for tax purposes. The tax liability would then be calculated based on the applicable tax laws and rates for HUFs. However, if the HUF has been partitioned or divided legally, and the members have obtained their respective shares, the income or gains from the sale of the property would be taxable in the hands of the individual members and not the HUF. In such cases, the income would be considered as part of the individual member's income for tax purposes. It is important to note that tax laws and regulations can be complex and can vary based on individual circumstances and jurisdiction. Therefore, it is recommended to consult with a qualified tax professional or chartered accountant who can provide personalized advice based on the specific details of the situation. They would be able to guide you on the applicable tax rules and the proper treatment of the income from the sale of ancestral property by a HUF.

[@dayanandbharati6863]

What a person who never fild any Income tax return so far.

[@SMEDUTALK]

Those who have an income of more than 2.5 lakhs must pay income tax. Non-taxpayers should pay it to avoid action taken by the income tax department at any later date.

[@samsinclair1216]

மிக அருமையான விளக்கம் சார்..நன்றி

[@SMEDUTALK]

மகிழ்ச்சி. நண்பர்களுக்கும் பகிரவும்.

[@sridharanvenkataraman7567]

Very clearly presented video with effective voice. Thanks.

[@SMEDUTALK]

You are most welcome

[@sabeerali5610]

அற்புதமான தொகுப்பு💐💐💐

[@SMEDUTALK]

மிக்க நன்றி!

[@zesathish]

This Topic is so useful and great knowledge thank you. In the same way we request you to place a video on plot selling and buying with explanation of tax calculations and the period of buying new property with out tax. Is there Any tax benifits for Senior Citizen? Will you please...

[@SMEDUTALK]

Glad it was useful. There is no tax for buying a plot or house. Tax is levied only for selling a plot or house. You have seen the tax implications when selling a house. The same rule applies when selling a plot except this. உங்கள் வீடு / நிலத்தை விற்பதன் மூலம் கிடைக்கும் வருமானத்தை இன்னொரு வீடு வாங்க மட்டுமே பயன்படுத்தலாம். நிலம் வாங்குவதன் மூலம் வரியை சேமிக்க முடியாது. No tax exemptions are given on capital gain tax for senior citizens.

[@rajeshwaril2395]

IN CASE YOU BUY alternative house YOU CAN ADJUST THE VALUE ARRIVE FINAL AMOUNT FOR I T CALCULATION

[@SMEDUTALK]

You have to pay the CG tax for the difference amount when sold house rate is more than bought house rate

[@bharathi7964]

மிக சிறப்பான விளக்கம்... நன்றிகள் பல

[@SMEDUTALK]

இந்த வீடியோ தங்களுக்கு பயன்பட்டதில் மகிழ்ச்சி!

[@devanandkatangot2931]

Really a good one. Thank you.

[@SMEDUTALK]

Glad you liked it.

[@venkataswamyl9141]

@@SMEDUTALK g

[@venkataswamyl9141]

@@SMEDUTALK 0

[@_maha_s]

@@SMEDUTALK 1

[@srinigovindaraju737]

Great msg So much I had been looking for. Made lots of sense with long term capital gains… 👍

[@SMEDUTALK]

Glad you liked it. I suggest you to watch its successive videos (Q&A parts).

[@gopalakrishnan5895]

This lesson is 👌 🌲 SUGGESTIONS (1) Investment in NHAI or REC Lock in Period Three years

[@SMEDUTALK]

As per section 54EC of the Income Tax Act, such investment can be redeemed only after 5 years. Before april 2018 the bonds could be redeemed within 3 years.

[@SriniVaith]

Excellent summary of all tax issues pertaining to house ownership. Thank you👌👍

[@SMEDUTALK]

Thank you sir. Glad it was helpful!

[@satturmuruges]

Good Informative talk on LTCG. EASILY UNDERSTANDABLE. THANK YOU SIR. T

[@SMEDUTALK]

Most welcome! If you wish you may watch 3 more videos (Q&A) in this series. Please check the playlist sir.

[@Smaran16g]

Superb good one… now only I have understood almost….

[@SMEDUTALK]

Glad to hear that. If you have further questions, I suggest you to watch these videos; Capital Gain Tax (Tamil) | Questions & Answers - Part 3 | Selling a house or land kzbin.info/www/bejne/m3i4aZttp66bfdk Capital Gain Tax (Tamil) | Questions & Answers - Part 2 | Selling a house or land kzbin.info/www/bejne/qYDVcp-Io8R4gKM Capital Gain Tax (Tamil) | Questions & Answers - Part 1 | Selling a house or land kzbin.info/www/bejne/kH6llatombyBZ9U

[@padminithiruvengadathan9043]

If long term capital gain is more than than Fifty Lakhs 20percent tax + 10 percent surcharge +4percent cess charge on that income tax Keep it in mind Nearly 30 percent of gain will go as income tax Bonds will give 5*25 percent interest only today with 5yrs lock in period and interest only in a year which is also treated as your income with normal income

[@vetrivel2249]

Thank you sir, Excellent explanation👍

[@SMEDUTALK]

Glad you liked it

[@shanmugavelup8033]

Any video on LTCG/STCG , while selling shares?

[@SMEDUTALK]

@@shanmugavelup8033 Not yet. I'll upload it in the future.

[@sudhaanand8256]

உபயோகமான பதிவு நன்றி சுதாஆனந்த் கோவை

[@SMEDUTALK]

உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!

[@Sattai558]

Neatly explained without ambiguity. Thanks

[@SMEDUTALK]

Thanks and welcome

[@chandrasekar4829]

Very very useful information friend. and social service. Congrats

[@SMEDUTALK]

Many many thanks

[@rajal1625]

Thanks. Most useful information to tax payers.

[@SMEDUTALK]

Glad it was helpful!

[@justrelax6123]

அருமையான/தெளிவான விளக்கம்!

[@SMEDUTALK]

மிக்க நன்றி!

[@nagarajandr3882]

Very useful information. Will this tax calculation will apply for the sale of vacant plots?

[@SMEDUTALK]

Same rule applies. But, உங்கள் வீடு / நிலத்தை விற்பதன் மூலம் கிடைக்கும் வருமானத்தை இன்னொரு வீடு வாங்க மட்டுமே பயன்படுத்தலாம். நிலம் வாங்குவதன் மூலம் வரியை சேமிக்க முடியாது.

[@munusamyjambu6107]

Simply understanding calculation.thankyou sir

[@SMEDUTALK]

Always welcome

[@vidhyabalu5753]

Very nice and clear explanation. Thank you.

[@SMEDUTALK]

Glad it was helpful!

[@narayananduraisamy395]

Sir, Very good explanation in Tamil. Thank you very much sir.

[@SMEDUTALK]

You are welcome

[@cmuthuswamy1825]

Excellent 👍🏾. Very clearly explained. 👏

[@SMEDUTALK]

Thanks. Glad you liked it

[@gnanagirigiri1919]

Good explanation to all tax payers.and property buy and seller. Thanks dear.

[@SMEDUTALK]

So nice of you

[@gobinathsubramaniam6541]

Excellent information and dedicated presentation

[@SMEDUTALK]

Glad you liked it

[@gurumurthym1003]

Very good description. Keep it up.!!!

[@SMEDUTALK]

Thanks a lot 😊

[@muthukuppusamy9830]

friend! it's a valuable message for people. knowledge gain. it's make us a awareness about selling and buying property. Thank u dear friend!

[@SMEDUTALK]

It's my pleasure. Glad it helped to you.

[@muthukuppusamy9830]

thank u friend!

[@blazingbernard5457]

Love you sir, well explained, very useful for me. Thank you 💞

[@SMEDUTALK]

Most Welcome. Glad it helped.

[@karthikeyanm1783]

அருமையான விளக்கம்! நன்றி!!

[@SMEDUTALK]

இந்த வீடியோ உங்களுக்குப் பயன்பட்டதில் மகிழ்ச்சி!

[@ganyk13]

Further to my view on construction costs and indexation as explained by me below , I think what you may be meaning as construction is additional repair costs and not new construction.

[@SMEDUTALK]

OK

[@RaviChandran-wm7bj]

Excellent explanation given which may be very useful to many. Thanks a lot, sir. 🙏

[@SMEDUTALK]

You're most welcome

[@aruchamygounder1678]

நல்ல தொரு விளக்கம். நன்றி

[@SMEDUTALK]

மகிழ்ச்சி. நண்பர்களுக்கும் பகிரவும்.

[@PriyaBS5917]

The first index for Capital gain was announced in 1964 and not in 1981. The index has so far revised twice- once in 1981 and again in 2000

[@SMEDUTALK]

Thanks for your information.

[@panneerselvaml7662]

வீட்டைவிற்ற பணத்தைக்கொண்டு, புதியதாக கட்டப்பட்ட பிளாட்டை அல்லது வீட்டை வாங்கினால் மட்டுமே capital gains tax avoid பண்ணமுடியுமா? அதே மொத்த பணத்தைக்கொண்டு Resale மூலம் வரும் secondhand flat அதாவது ஏற்கனவே கட்டப்பட்ட பழைய பிளாட்டை வாங்கினாலும் tax avoid பண்ணமுடியுமா?

[@dhanalakshmis7820]

Thank u sir for giving very essential information

[@SMEDUTALK]

Always welcome

[@veluvelu7231]

அருமையான விளக்கம் வாழ்த்துக்கள்

[@SMEDUTALK]

மிக்க நன்றி!

[@navisdevaki4081]

Vangra sambalathuku tax. Ethai vanginalum tax. Kadan vangi Veedu Katina tax. Veetai Vitral tax. Antha Panam silenta Arasiyalil.... Vathikaluku vedukalaka nagaiyaka pinamiku poividum.

[@sankaranji]

You buy an asset out of your after tax income savings. Due to inflation the price goes up. For instance a 1000 sft apt costed me 12 lacs in 1999. I paid IT on rental income. I paid 50% of EMI from my salary savings after tax. replacement cost is 1.25 crores but sale value is only 70-75 lacs. If I sell this house, I have to pay around 8 lacs as LTCG. Net receipt is 62 lacs as against replacement value of 1.25 crores. How ridiculous is this? THIS IS KILLING SENIOR CITIZENS. HENCE Scrap this ridiculous LTCG.

[@SMEDUTALK]

Agree Sir. Government's duty is to serve the people, but it doesn't happen now. In addition, Budget 2024 proposed removing indexation benefits entirely. However, this change was not applicable for properties acquired before 2001. For your information, The acquisition cost of a house is generally more than just the initial buying cost. Components of Acquisition Cost: Purchase Price: The original amount paid for the property. Home Loan Interest: The total interest paid on the home loan over the years. Registration Charges: Costs incurred for registering the property in your name. Stamp Duty: Taxes paid during the property registration process. Property Tax: Paid during the ownership period (may or may not be included, depending on specific tax laws). Improvement Costs: Expenses incurred on property improvements (e.g., renovations, additions). Importance of Acquisition Cost: Accurately calculating the acquisition cost is crucial for determining the Capital Gains Tax when you sell the property. The capital gain is the difference between the sale price and the acquisition cost. It's essential to consult with a tax professional or chartered accountant to accurately calculate your acquisition cost and determine the applicable taxes. They can provide guidance based on your specific circumstances and applicable tax laws.

[@kgbaburao]

Thanks for your vedeo. I understand clearly from your naration. Well done

[@SMEDUTALK]

Glad it was helpful!

[@jeyakumar8028]

Well explained without any interruption.. super

[@SMEDUTALK]

Thanks a lot.

[@subramanianmuthugopal2678]

Highly informative sir

[@SMEDUTALK]

Thanks and welcome

[@subramanianmuthugopal2678]

Sir if ur reply is exhibited in this video it will be educative and informative to all. Pl do it sir

[@SMEDUTALK]

@@subramanianmuthugopal2678 Good idea sir. Soon, I'll upload another video for Q&A in CG tax.

[@meru7591]

Masha Allah

[@bagavathisundari6441]

Please explain on giving gifts and tax exemption. GIFT TAX.

[@SMEDUTALK]

I'll try to upload a video

[@aramachandran4039]

Clear explanation.

[@SMEDUTALK]

Glad you think so!

[@sarangapaniraju3516]

very useful video brother , thank u.

[@SMEDUTALK]

Glad it was helpful

[@shaminiehamparam1038]

So useful information.

[@SMEDUTALK]

Glad it was helpful!

[@mohansankar1815]

Sir, Thank you for your wonderful information . My doubt is that 1)whether this capital gain tax is applicable for ancestoral property when it is sold and 2) if the property is purchased during 1967 how this indexation method being applied for? Pl explain.

[@SMEDUTALK]

1) Yes, it is. 2) Please watch the following video to get the elaborate answer; Capital Gain Tax (Tamil) | Questions & Answers - Part 1 | Selling a house or land kzbin.info/www/bejne/kH6llatombyBZ9U

[@mohanramaswamy1421]

In your example the capital gain is 22 lacs and new house purchase value Rs.20 lacs. Rs.20 lacs is too small to purchase a new house. The doubt is whether the purchase of new house is within capital gain (profit) amount or in excess of the capital gain amount.

[@SMEDUTALK]

The purchase value of new house should be equal to or greater than the capital gain amount. It means, capital gain amount is spent completely to buy the house. Hence, there is no need to pay the capital gain tax.

[@subbarayalumohandoss1545]

கேப்பிட்டல் கையின் Tax கால்குலேசன் எவ்வளவுக்கு வருதோ (after Indexation) அதற்கு மட்டும் பாண்ட் வாங்கினால் போதுமா? மீதம் உள்ள பணத்தை ஒயிட் தானே. அதை வேறு FD , NSC., Mf போன்றவற்றில் முதலீடு செய்யலாம் அல்லவா? One more doubt. Instead of purchasing bond, shall I purchase plot for that profit amount i.e taxable portion . Please clarify Sir.

[@SMEDUTALK]

Capital Gain எவ்வளவு வருகிறதோ அந்த amountக்குதான் Bond வாங்க வேண்டும். Capital Gain Taxக்கு Bond வாங்கக் கூடாது. Capital Gainத் தவிர்த்து மீதம் உள்ள பணத்தை நீங்கள் எப்படி வேண்டுமானாலும் உபயோகிக்கலாம். மேலும், உங்கள் வீடு / நிலத்தை விற்பதன் மூலம் கிடைக்கும் வருமானத்தை இன்னொரு வீடு வாங்க மட்டுமே பயன்படுத்தலாம். நிலம் வாங்குவதன் மூலம் வரியை சேமிக்க முடியாது.

[@janakiramanmuthukrishnan1242]

Very clear explanation , super sir

[@SMEDUTALK]

Thank you

[@Weallareone1719]

We are paying tax regularly, already we paid house tax, water tax, sevage tax etc. For some reasons we are selling our property, why government steelling money thru tax, very unfair in India

[@SMEDUTALK]

Very true

[@kunjithapathamkunjitham1065]

தகவலுக்கு நன்றி சார்

[@SMEDUTALK]

உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!

[@krishnaraju88]

Please advise the above explained procedure is same for approved plots also. Thank you.

[@SMEDUTALK]

Yes, sure. I am doing it in comment section.

[@dtube123]

Arumaiyana thagaval nanba

[@SMEDUTALK]

நன்றி நண்பரே!

[@radhakrishnanl2342]

Super. Explained very nicely . Super.

[@SMEDUTALK]

Thank you so much 🙂

[@lakshminarsimhankrishnaswa932]

Neat explanation. Simply superb. Can you clarify . Can we spend some repair work on an existing house from capital gains. Or repay some loans.

[@SMEDUTALK]

Thank you. Please watch this video to know the answer for your question; Capital Gain Tax (Tamil) | Questions & Answers - Part 3 | Selling a house or land kzbin.info/www/bejne/m3i4aZttp66bfdk

[@GuitSiva]

Thanks.. 🙏Vaazhga Valamudan🙏

[@SMEDUTALK]

Welcome

[@ManiV-yn2rb]

Suppose a person while purchasing registered a plot for lesser amount and paid more as per agreement, at what price of purchase amount has to be taken while selling the property

[@SMEDUTALK]

The price mentioned in the document is the official price. You have to consider it on both buying and selling.

[@akashbency5819]

Superb..had these doubts in mind for long...clearly explained..

[@SMEDUTALK]

Glad to hear that

[@usefulent9257]

1:29. If we don't have any job or income , then what will be the tax calculation?

[@joysinghjohnson8753]

100% correct. Thx.

[@SMEDUTALK]

Glad you liked it.

[@SivaKumar-dl1yw]

Thank you for the very useful and informative message. I have a small query. Purchased a site in 2001-2002 for Rs. 3 Lakhs. Later, in the same year, I built my house by investing Rs.10 lakhs. Whether the house cost is included in the Purchase value? When I sell this house including the land, where the costof house will be included? Thank you.

[@SMEDUTALK]

Please watch this video to get a detailed answer; Capital Gain Tax (Tamil) | Questions & Answers - Part 3 | Selling a house or land kzbin.info/www/bejne/m3i4aZttp66bfdk

[@mani6678]

மிக்க நன்றி ஐயா.

[@SMEDUTALK]

உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!

[@PraveenKumar-is7cj]

Really great sir

[@SMEDUTALK]

Thanks SIr

[@Sattai558]

If the properly purchased in 1986 and sold in 2015. How to calculate inflation index sir pl

[@SMEDUTALK]

Sir, the cost inflation index for the current financial year (2021-22) is 317. But you have purchased long back. For it's calculations, please refer, cleartax.in/s/capital-gains-calculation-base-year-shift

[@mahiraji7830]

Nice Info. But if you buy home on loan then how to calculate buying price? Actual cost as per agreement or total amount paid to bank including interest. Please clarify

[@SMEDUTALK]

Watch this video to know the detailed answer; Capital Gain Tax (Tamil) | Questions & Answers - Part 3 | Selling a house or land kzbin.info/www/bejne/m3i4aZttp66bfdk

[@sundararajansrinivas]

அருமையான பதிவு

[@SMEDUTALK]

மிக்க நன்றி!

[@drsundaram4748]

Thanks for your nice posting 👍👍😊

[@SMEDUTALK]

Thanks for visiting

[@simplybrilliantinsights]

Nice video sir. Very valuable information

[@SMEDUTALK]

Thank you

[@fredrickroberts4944]

Wonderful Information..Thank you for sharing..Is this formulas applicable for the plot or land also?

[@SMEDUTALK]

Yes, it is

[@fredrickroberts4944]

@@SMEDUTALK Thank you..👍🏼

[@jayashrivenkatesan8372]

What is capital gain? Is it the diff between the selling and buying amount or the amount arrived @ after applying that formula

[@SMEDUTALK]

@@jayashrivenkatesan8372 Selling price - Indexed cost of acquisition

[@jayashrivenkatesan8372]

@@SMEDUTALK thk u

[@rajadurai6355]

I buy the House 16 lacks in 2012. Now I sell the house same amount. Can you pay capital gain tax

[@SMEDUTALK]

This tax is levied for the capital gain. You didn't get any gain for selling the house. So, no need to pay the tax for it.

[@aramachandran4039]

நியாயமான முறையில் வாழ‌ முடியாதா ?

[@SMEDUTALK]

வாழலாம் (ஆனால், வரிகட்டிவிட்டு).

[@periyasamyrajasekar6412]

Thank you sir 🙏🏼 Very very useful message.👌🤝

[@SMEDUTALK]

You're most welcome

[@krishnankulathu2382]

For a house purchased prior to 2001 say in 1995 what will be the capital gain index in 2001

[@SMEDUTALK]

Please refer, cleartax.in/s/capital-gains-calculation-base-year-shift

[@pattabiraghavan6935]

அருமை.

[@SMEDUTALK]

நன்றி !

[@moorthimalaiyarasan5112]

Capital gain account ல் போட்ட பணத்தை அதற்கான வரியை கட்டிய பிறகு எடுப்பது எப்படி?

[@SMEDUTALK]

To withdraw money from a capital gains account, you need to make an application through Form C. Once the withdrawal is made, you need to utilise it within 60 days and it cannot be re-deposited in the account immediately. If a second withdrawal is required, you need to make an application through Form D. Ask your bank for more details.

[@balasubramaniansambasivam2218]

Whether the LTCG kept in CG account drawn for investment in REC or NHAI bonds

[@SMEDUTALK]

Yes, you can

[@raghuramankr3847]

Very informative video Sir. Please advise the base index for a flat purchased in 1996. Thanks and Regards

[@SMEDUTALK]

Thank you sir. CII for 1995-1996 = 281 CII for 1996-1997 = 305

[@raghuramankr3847]

@@SMEDUTALK Thank you Sir. So, this is based on 1980 as 100, I suppose. In that case, what is the CII for 2021-22?

[@SMEDUTALK]

Sir, the cost inflation index for the current financial year (2021-22) is 317. But you have purchased long back. For it's calculations, please refer, cleartax.in/s/capital-gains-calculation-base-year-shift

[@raghuramankr3847]

@@SMEDUTALK Thank you Sir

[@TKPadmaRao]

Informative. Super explanation

[@SMEDUTALK]

Glad you liked it

[@AchuLachu312]

Sir, the new property should be purchased in which amount? Capital gain value or LTCG value?

[@SMEDUTALK]

You can purchase for any value. From that, you can claim the capital gain that you earned from the previous sale.

[@pmrcivilnpt]

Sir, please give the Cost Inflation Index table for this financial year 2023-24.

[@SMEDUTALK]

Financial Year Cost Inflation Index (CII) 2020-21 301 2021-22 317 2022-23 331 2023-24 348

[@sarokyaraj6672]

வரிவரி என்று கொள்ளையடிக்கும் கொடூர ஆட்சி.

[@srisan09]

Sir, very informative details. extremely happy. thanks. If i own a vacant land in 1988, wts is the index value?

[@SMEDUTALK]

Thanks. The CII value of 1987-88 is 150. The CII value of 1988-89 is 161.

[@chennaispetlove7606]

Super USeful! We have recently sold our Ancestral property (1947 built) on May 2022. In this case what would be our calculation? Is the Index value given here is standard and true across all areas?

[@SMEDUTALK]

Super USeful! - Sounds great In this case what would be our calculation? - Watch this video; Capital Gain Tax (Tamil) | Questions & Answers - Part 1 | Selling a house or land kzbin.info/www/bejne/kH6llatombyBZ9U Is the Index value given here standard and true across all areas? - Yes, but google it to check for your satisfaction. It is always better to recheck, and never rely on one answer/person.

[@danielswaminathan2817]

Lucidly explained

[@SMEDUTALK]

Thank you

[@devangathiagarajavijayakum2511]

Thanks a lot.

[@SMEDUTALK]

Most welcome!

[@mohammedquthpudin133]

Very easy to understand

[@SMEDUTALK]

Thanks a lot

[@mohankumarvenkatachalam4100]

Great information. Thank you Sir.

[@SMEDUTALK]

Glad it was helpful!