🏡How to Save Tax when Selling a House? 3 Simple Ways that Can Make Your Tax 0 | LearnApp

Do you know how much taxes you are paying on the profit you've made from selling the property?

If not, you'll learn it in this video in a comprehensive way along with 3 unknown ways to save taxes when selling a property.

⏰️
00:00 Introduction
00:42 What is Short Term Capital Gain & Long Term Capital Gain
01:51 How property tax is calculated
04:19 1st trick to save tax
05:13 2nd trick to save tax
06:29 3rd trick to save tax
08:33 Concluding the story

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[rahulbhatia]

I'm 21 years old and wanted to buy a house in my 30s and everything sips, stocks going pretty smooth and after watching these type of content I'll say thanks big brother bcoz it was so interesting apart from other boring vidz lyk a 21yr old kid feels ( uh get it ryt) 🤟☮️

[rajendermakhijani]

Hi Prateek, nice video. I want to add a couple of points-

1. For properties purchased before 2000-01, the government revised the tax rules a few years back. Currently the “fair market value” as on 1.04.2001 is used to consider cost of acquisition instead of the original cost for indexation purposes. Effectively, any gains earned prior to this date are automatically exempted.

2. The time period for acquisition of a new house is a bit more complicated. One can acquire a new residential property anytime from 1 year prior to sale of existing property upto 2 years after its sale. Alternatively one can construct a new house within 3 years of the sale.


PS. You may not remember me (RKM from TFS).

[allcaps]

Can I invest the Capital Gains amount in both (A) Capital Gains, and (B) NHAI bonds? The idea is to have some liquidity on some amount, and also at the same time get some moderate returns on the other amount I wouldn't be needing immediately.

[vikashmaurya]

You people are really great. I am learnapp regular student I have learned a lot from Prateek sir and Karthik Rangappa sir. You people are really superb

[arundass]

thanks for the video!! 2 queries please wrt deductions that can be claimed to reduce capital gains and thereby tax;
1) For purchase date consideration, should we include the date of agreement where we started paying the first instalment or the date mentioned in the final sale deed
2) Apart from a) CII b) repair work c) any Section 54 like 54ec capital gain bonds, is there any other deduction that can be claimed (I guess the yearly property tax/water tax etc can't be claimed ), thanks!!

[dhawaldorwal]

Dear sir, what if we put long term capital gain in a mixed way I mean some part in buying a house and some part in buying bonds is it allowed?

[anishchakraborty]

But I heard indexation benefits were removed on 2024, do we still have it? Can anyone tell me please

[surendrakb]

Can u please explain how to calculate inflation on indexation on long term capital gain

[parminderkumar]

Can I avail this indexation for a piece of land or residential plot?

[darkmaster]

What happens if price adjusted for inflation is more than selling price? Do we have to pay taxes?

[pargatsingh]

Wow.. Great video.. Even some so called CAs don't know this much.. 👍

[rohans]

Sir, I have sold the house after 7 years of purchase and had kept the amount in capital gain scheme which I have withdrawn to purchase a site but now for the time being I can't build the house, do I have to pay the taxes? Is there any way to avoid it?

[Maharajadankuni]

Sir Thank you for this video.

I have a problem can you plz help 🙏

We had an old house and we called a devoloper and promoted the property.

Now, we got 3 flats out of which we want to sell just one flat and after selling we want to put the money in certain catagories, like:-

1. Paying off all our bank debt
2. Buying agricultural land
3. Build a house, infrastructure and garden on that agricultural land.

So, can we do it and save all our taxes on the flat selling money or pay least amount of tax?

How to do it, plz help.

[bvsprasad]

Is capital gain amount invested for 5 years in NHIA Govt bond will be added to income after 5 years ?? Please clarify Sir

[roshanrathod]

What if i have home loans to clear ...selling after 3years, only half of the amount left after closing

[shabzilla]

Thanks very much for explaining the LTCG tax and this example, very informative and clear from start to finish! Can I also check if this procedure is the same for NRIs selling property in India?

[vijayraj]

Thank you so much for giving this knowledge 🙏🙏

[arunsaibk]

can you create a video with new rules with the same example

[vaibhavshugel]

Thank u so much for this valuable information..😊

[suryakiran]

Awesome Session sir, it's really an awesome video. I heard we can save tax but this is the first video that came up with a video explanation....
Kudos to the team who supported and intro is epic