Tax Considerations For Flipping Properties: Managing Profit And Loss

Ans: Profits are typically considered ordinary income, subject to regular income tax rates.

Ans: Renovation costs, professional fees, property taxes, insurance premiums, utilities, and advertising expenses may be deductible.

Ans:  Although it is possible to make money by flipping houses in India, the process is complicated by numerous tax concerns. It is necessary to carefully manage income, deductions, holding periods, and self-employment taxes.