New Property Taxation Scenarios:
1) Modest Gains, High Burden
2004 Buy Price: ₹50 lakh
2024 Sell Price: ₹1.6 crore
Old Taxation: ₹7,339
New Taxation: ₹13.75 lakh
Your tax liability jumps from ₹7,339 to ₹13.75 lakh!!!
2) Moderate Gains, Heavier Lo
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If you are a freelancer, or are just curious what it holds on the taxation front, Section 44ADA can mean huge tax savings.
Here is a detailed breakdown - https://shriharsha.com/salary-to-contract-44ada/
Also bonus - a tool to compare your potentia