Is it taxable if you sell your house? (Tamil) | Ways to Avoid Taxes | Capital Gain Tax
ฝัง
- เผยแพร่เมื่อ 1 มิ.ย. 2021
- 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;
For more videos,
Click the following link to enter into the Channel Page :
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What will be the situation with new budget today - july 2024
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.
.. கஷ்டம் வரும்போது ஒருத்தன் வீட்டை விற்கிறான்... அதுக்கு அவனுக்கு வரி... இது தப்பு...
ஒருவன் உழைத்து சம்பாதிக்கின்ற பணத்தை பல வழிகளில் வரி போட்டு பிடுங்கும் அரசாங்கம் ஒரு நாள் அவன் வேலை இழந்து வருமானம் இன்றி இருக்கும்போது அவனுக்கு உதவுவதில்லை
You are 100 percent correct,the Rulers taking money from poor people and give huge benefits to big cheaters like choksi and mallaiah
Modi yin velai
நியாயமான கேள்வி. ஆனா இது மோடிகாலத்துக்கு முன்பிருந்தே இருந்து வருகிறது
@@thevaparvathamministries1282 no this was the rule before modi came he may have increased the tax
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.
My pleasure. Glad it was useful to you.
விரிவாகவும் , விளக்கமாகவும் கூறினீர்கள். மிகவும் நன்று வாழ்த்துக்கள்.
மிக்க நன்றி
மிகவும் பயனுள்ள தகவல். மிக்க நன்றி.
உங்களுக்கு உதவியதில் மகிழ்ச்சி.
Good Informative talk on LTCG. EASILY UNDERSTANDABLE. THANK YOU SIR. T
Most welcome! If you wish you may watch 3 more videos (Q&A) in this series. Please check the playlist sir.
Great msg
So much I had been looking for. Made lots of sense with long term capital gains… 👍
Glad you liked it. I suggest you to watch its successive videos (Q&A parts).
சகோதரர் புரியும்படி வெளக்கமாக சொல்லீயதற்கு நன்றி
உங்களுக்குப் பயன்பட்டதில் மகிழ்ச்சி.
மிக அருமையான விளக்கம் சார்..நன்றி
மகிழ்ச்சி. நண்பர்களுக்கும் பகிரவும்.
அற்புதமான தொகுப்பு💐💐💐
மிக்க நன்றி!
Neatly explained without ambiguity. Thanks
Thanks and welcome
Very clearly presented video with effective voice. Thanks.
You are most welcome
அருமையான/தெளிவான விளக்கம்!
மிக்க நன்றி!
Very nice and clear explanation. Thank you.
Glad it was helpful!
Love you sir, well explained, very useful for me. Thank you 💞
Most Welcome. Glad it helped.
Superb..had these doubts in mind for long...clearly explained..
Glad to hear that
உபயோகமான பதிவு நன்றி
சுதாஆனந்த் கோவை
உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!
மிக சிறப்பான விளக்கம்... நன்றிகள் பல
இந்த வீடியோ தங்களுக்கு பயன்பட்டதில் மகிழ்ச்சி!
Simply understanding calculation.thankyou sir
Always welcome
நல்ல தொரு விளக்கம். நன்றி
மகிழ்ச்சி. நண்பர்களுக்கும் பகிரவும்.
Excellent 👍🏾. Very clearly explained. 👏
Thanks. Glad you liked it
Thank u sir for giving very essential information
Always welcome
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.
OK
Thank you sir 🙏🏼
Very very useful message.👌🤝
You're most welcome
Thanks for your vedeo. I understand clearly from your naration. Well done
Glad it was helpful!
Excellent information and dedicated presentation
Glad you liked it
Very clear explanation , super sir
Thank you
Well explained without any interruption.. super
Thanks a lot.
தகவலுக்கு நன்றி சார்
உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!
மிக்க நன்றி ஐயா.
உங்களுக்கு இந்த வீடியோ பயன்பட்டதில் மகிழ்ச்சி!
Thanks. Most useful information to tax payers.
Glad it was helpful!
Thank you sir, Excellent explanation👍
Glad you liked it
Any video on LTCG/STCG , while selling shares?
@@shanmugavelup8033 Not yet. I'll upload it in the future.
Good explanation to all tax payers.and property buy and seller. Thanks dear.
So nice of you
அருமையான விளக்கம்! நன்றி!!
இந்த வீடியோ உங்களுக்குப் பயன்பட்டதில் மகிழ்ச்சி!
very useful video brother , thank u.
Glad it was helpful
Super.
Explained very nicely .
Super.
Thank you so much 🙂
Superb good one… now only I have understood almost….
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
th-cam.com/video/eGU8h7rIhGw/w-d-xo.html
Capital Gain Tax (Tamil) | Questions & Answers - Part 2 | Selling a house or land
th-cam.com/video/sOrAlRn_EJA/w-d-xo.html
Capital Gain Tax (Tamil) | Questions & Answers - Part 1 | Selling a house or land
th-cam.com/video/ZMBdx2dWN1s/w-d-xo.html
Sir, Very good explanation in Tamil.
Thank you very much sir.
You are welcome
Excellent summary of all tax issues pertaining to house ownership. Thank you👌👍
Thank you sir. Glad it was helpful!
Thanks.. 🙏Vaazhga Valamudan🙏
Welcome
Thanks for your nice posting 👍👍😊
Thanks for visiting
Great information. Thank you Sir.
Glad it was helpful!
IN CASE YOU BUY alternative house
YOU CAN ADJUST THE VALUE ARRIVE FINAL AMOUNT FOR I T CALCULATION
You have to pay the CG tax for the difference amount when sold house rate is more than bought house rate
Nice video sir. Very valuable information
Thank you
அருமையான விளக்கம்
வாழ்த்துக்கள்
மிக்க நன்றி!
What a person who never fild any Income tax return so far.
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.
Very good description. Keep it up.!!!
Thanks a lot 😊
Very very useful information friend.
and social service. Congrats
Many many thanks
So useful information.
Glad it was helpful!
This lesson is 👌 🌲 SUGGESTIONS (1) Investment in NHAI or REC Lock in Period Three years
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.
Clear explanation.
Glad you think so!
Really a good one. Thank you.
Glad you liked it.
@@SMEDUTALK g
@@SMEDUTALK 0
@@SMEDUTALK 1
Very easy to understand
Thanks a lot
Thanks a lot.
Most welcome!
100% correct. Thx.
Glad you liked it.
Arumaiyana thagaval nanba
நன்றி நண்பரே!
Informative. Super explanation
Glad you liked it
Super explanation sir thank u
You're most welcome
Really great sir
Thanks SIr
Please tell for how-to save tax on ltcg of selling a house for unemployed??
1:29. If we don't have any job or income , then what will be the tax calculation?
Masha Allah
அருமை.
நன்றி !
Explained very nice.
Thank you so much 🙂
அருமையான பதிவு
மிக்க நன்றி!
Very useful. Subscribed. Thanks
Thanks and Welcome
Very informative.
Glad you liked it. I suggest you to watch its successive videos (Q&A parts).
Very useful information
Thanks a lot
Useful information sir
Thanks and welcome
Good Explanations.
Glad you liked it
Very usefull information, thanks for sharing, may I know if this tax excemptions apply for Nri and OCI holders?
Yes with little changes. For more information, refer this link;
www.financialexpress.com/money/tax-implications-on-capital-gains-earned-by-nris/2353362/
GOOD INFORMATION
Thanks
Whether the LTCG kept in CG account drawn for investment in REC or NHAI bonds
Yes, you can
very useful sir, Tq
Always welcome
THANKS. GOOD INFORMATION FOR THOSE WHO ARE SELLING THEIR PROPERTIES. I NOT ABLE TO UNDERSTAND WHY IT WAS DISLIKED BY 16 VIEWERS!
Glad it was useful to you. I think, it wasn't useful to those 16 viewers. That's why, they disliked the video.
Any information told should be authoritative with reference to central government Notification or Income tax Act provisions.
@@dmanimani4809 Noted
Great information
Glad you liked it
Clear explanation
Thanks
Very useful information. Will this tax calculation will apply for the sale of vacant plots?
Same rule applies. But, உங்கள் வீடு / நிலத்தை விற்பதன் மூலம் கிடைக்கும் வருமானத்தை இன்னொரு வீடு வாங்க மட்டுமே பயன்படுத்தலாம். நிலம் வாங்குவதன் மூலம் வரியை சேமிக்க முடியாது.
Thanks
Welcome. Thank you for buying 'Super Thanks".
Please advise the above explained procedure is same for approved plots also. Thank you.
Yes, sure. I am doing it in comment section.
Good explanation sir
Thanks and welcome
Neat explanation. Simply superb. Can you clarify . Can we spend some repair work on an existing house from capital gains.
Or repay some loans.
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
th-cam.com/video/eGU8h7rIhGw/w-d-xo.html
Highly informative sir
Thanks and welcome
Sir if ur reply is exhibited in this video it will be educative and informative to all. Pl do it sir
@@subramanianmuthugopal2678 Good idea sir. Soon, I'll upload another video for Q&A in CG tax.
Good information bro👍👍
Thank you so much 👍
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
Thanks for your information.
Kindly put a video for long term capital loss
Thank you
You're welcome
For a house purchased prior to 2001 say in 1995 what will be the capital gain index in 2001
Please refer,
cleartax.in/s/capital-gains-calculation-base-year-shift
Lucidly explained
Thank you
Very helpful
Glad it helped
Supersirthankes
Glad it was useful
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,
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.
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.
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
th-cam.com/video/ZMBdx2dWN1s/w-d-xo.html
Valid information sir
Thanks and welcome
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?
Excellent explanation given which may be very useful to many. Thanks a lot, sir. 🙏
You're most welcome
If the properly purchased in 1986 and sold in 2015. How to calculate inflation index sir pl
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
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...
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.
Very informative video Sir. Please advise the base index for a flat purchased in 1996. Thanks and Regards
Thank you sir.
CII for 1995-1996 = 281
CII for 1996-1997 = 305
@@SMEDUTALK Thank you Sir. So, this is based on 1980 as 100, I suppose. In that case, what is the CII for 2021-22?
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
@@SMEDUTALK Thank you Sir
What is the inflation indux for the year 1999-2000
389