PROPERTY CAPITAL GAINS & ITR FILING: A COMPLETE GUIDE WITH ACTIVETAXPRO ADVISORY!

PROPERTY CAPITAL GAINS & ITR FILING: A COMPLETE GUIDE WITH ACTIVETAXPRO ADVISORY!

Selling property? Understanding Capital Gains Tax and ITR Filing is crucial to stay compliant and save on taxes.

What Are Property Capital Gains?

Capital gains arise when you sell a property for more than its Purchase Cost. There are two types:

• ·       Short-Term Capital Gains (STCG): Property sold within 24 months.
• ·       Long-Term Capital Gains (LTCG): Property sold after 24 months.

Tax Rates on Capital Gains!

• ·       STCG: Taxed at Normal Income Tax Slab Rates.
• ·       LTCG: Taxed at 20% With Indexation Benefits to adjust for inflation.

Exemptions on Property Capital Gains!

• ·       Section 54: Reinvest in a residential property.
• ·       Section 54EC: Invest in specified bonds.
• ·       Section 54F: Invest sale proceeds from non-residential property in a                      residential property.

ITR Filing for Capital Gains!

·       Select the correct form: Usually ITR-2 or ITR-3.

• ·       Report sale details: Include purchase cost, sale price, and improvement                expenses.
• ·       Pay advance tax: Required if gains exceed 10,000.
• ·       Attach proofs: Sale deed, purchase deed, stamp duty receipts, and bond                investment proofs.

Why Choose ActiveTaxPro Advisory?

We simplify capital gains tax and ITR filing with:

• ·       Accurate calculation and indexation benefits.
• ·       Guidance on exemptions and tax-saving investments.
• ·       Hassle-free filing ensuring full compliance.

Maximize returns on your property sale while staying tax-compliant. Contact ActiveTaxPro Advisory Today!