Transfer tax

Tax Glossary Definition

Transfer tax

A transfer tax is a levy imposed on the transfer of ownership or rights in assets, including the sale or purchase of immovable property, securities, or other goods. The tax is usually calculated as a percentage of the transaction value and is payable at the time the ownership or rights are officially transferred.

Example: When an individual sells a house for ₹60 lakh, the government may impose a 1% transfer tax, amounting to ₹60,000, payable during property registration. Similarly, transferring shares of a company may attract a securities transfer tax based on the transaction value.

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