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How much income tax do I have to pay if I sell property worth Rs 1cr
07-Nov-2023 (In Tax Law)
Actually i'm selling my ancestral property worth crore but here the problem is that i've heard that you need to pay 30% income tax on that amount that means 30 lakhs rupees that's really a big amount of tax and i can't really afford to pay that amount of tax so my question is that is it true? do i really need to 30 lakhs on sale of 1 crore of property please clear my confusion and help me.
Dear, income earned through property comes under other head. Which follow other rule of calculation. There is no slab of 30% tax in that matter. So need to worry about that. if you need any assistance regarding this query you can contact me for that.
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Adv. Patrika Gupta
Ghaziabad | 25+ Answers
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