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How to Save Tax on Selling Property ?
A lot of investors now look at real estate as a profitable mode of investment apart from bonds and stocks. The key purpose is to earn a handsome return on the investment. Besides that, investors also want to save tax on selling the property bought for earning profits. Tax can be saved depending upon the duration of the purchase and sale of the property.

There are two types of real estate investments, i.e. short-term investment and long-term investment. As far as short-term investment is concerned, it is the investment where the investor sells the property within three years. In such an investment, the investor has to pay a huge amount of tax. Here, the capital gain is calculated by subtracting the cost of purchase, the money spent on maintaining the property and the transfer cost from the sale price.

On the other hand, a long-term investment is an investment where the investor sells the property after three years of purchase. Here, one can save a lot of tax. This is because in such scenarios the capital gain is calculated depending upon the inflation. The only difference here is that the cost of purchase of the property and the cost spent on its maintenance are adjusted depending upon the inflation. Under Section 54EC of the Income Tax Act, it is mentioned that the long-term capital gain can be claimed as tax-exempted by investing in notified bonds within six months of transfer. The process of calculating capital gain is known as indexation.

Suppose, you purchase a property worth Rs. 1 Crore and sell it after 10 years for Rs. 2 Crore, making a profit of Rs. 1 Crore. This is considered as the long-term investment and here the capital gain will be calculated accordingly. This is not applied in the case where income of the investor falls under the tax exemption limit. In such a case, the tax will be calculated on the amount above the exemption limit.

According to a renowned real estate firm, you can also save tax if you purchase an under construction property. But here, you have to be sure about one thing that you can’t sale the property within three years of its construction or purchase; else it will be treated as short-term investment and will be taxed as short-term capital gain only. If you are looking to purchase a property, then it’s better to go for a long-term investment as it is profitable as compared to short-term investment.

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