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Selling property? Know your tax timelines
Mint Hyderabad
|March 24, 2025
I have an apartment that I want to sell. If I sell it before March 31, 2025, will I have to pay the entire capital gains tax as advance tax by the same date?
My reservation is that the buyer will pay me in two installments, so I will not have enough money to pay the full tax before the end of this financial year. If I sell the property in April 2025 instead, I will get time till June 15, 2025, to pay advance tax. Is that correct?
It is assumed that you wish to sell an apartment in March 2025, for which payments will be received in two tranches spread across separate financial years, that is, one in March 2025 (FY25) and the balance in FY26. It is also assumed that you are below 60 years of age, and hence, the advance tax provisions are fully applicable to you under India's income tax regulations.
Cette histoire est tirée de l'édition March 24, 2025 de Mint Hyderabad.
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