What is Capital Gains Tax (CGT)?
CGT is a tax levied on the profit you earn from selling an asset like your house. It’s calculated by subtracting the purchase price from the selling price. This difference, if positive, is your capital gain, and that’s what gets taxed. Capital Gains Tax is a Direct tax.
Will I Have to Pay Tax if I Sell My House?
Selling your house can be a big decision, and understanding the tax implications is crucial before you proceed. In India, yes, you are likely to pay tax on the profit you make when selling your house. This tax is called Capital Gains Tax (CGT).