Bought a Plot or Flat in Coimbatore? The Capital Gains Tax Trap Nobody Warns You About
You bought a plot in Coimbatore 8 years ago for ₹12 lakhs. Today someone is offering you ₹45 lakhs for it. You are thinking about the ₹33 lakh profit. What you are not thinking about is the tax bill waiting on the other side of that transaction — and the multiple completely legal ways to reduce or eliminate it that your buyer's advocate will never tell you about. This guide from Wintrust Solutions covers everything you need to know about capital gains tax on property in Coimbatore before you sign anything. What Is Capital Gains Tax on Property? When you sell a property — plot, flat, commercial space, or agricultural land — and make a profit, that profit is called a Capital Gain . The Income Tax Department taxes this gain. How much you pay depends on how long you held the property before selling. Holding Period Type of Gain Tax Rate (Post Budget 2024) Less than 24 months Short Term Capital Gain (STCG) Added ...