Capital gain tax -buying a resale flat
1 year ago
I am buying a resale flat of which the set forth value is 29lakh and the market valuation comes Rs 36lakh which is a difference of Rs 7Lakh.My question is 1. Did the purchaser have to pay any capital gain tax? 2.How to minimise the tax on both side of buyer and seller?
A.Dear client, the buyer of the falt will not have to pay any capital gain tax. However, on the other hand the seller will have to. Moreover, there is always a tax exemption option for bot the seller in long term capital gain.
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