India on 3rd rank highest tax rate for Property sale

In the world India is on 3rd position for highest tax rate when it comes to selling commercial property. According to the reports of Taxand an autonomous global tax advisory said that after the Norway and Malta, India is the charging highest tax rate for commercial property. The study has been conducted by this tax advisory across 23 countries measures the total incidence of taxation for various categories of real estate, taxes to develop and sell commercial property will swallow up 21.17% of the value in Norway, 18.93% in Malta and 15.5% in India.

However, the taxman takes away more if you rent commercial property – the total incidence of tax if you rent out offices adds up to 24.86%, a global average. Similarly, in the residential segment, the research finds that renting a standalone home has a tax burden of 36%, while selling one has a tax rate of 16.88%. Selling flats have a tax rate of 14%. Comparatively, China has one of the highest global tax rates for rental homes, at 50%, but is about the same as in India for other asset classes.