Do I need to pay tax when I sell property

Yes, when you sell a property, you may be subject to Seller Stamp Duty (SSD). It is the seller's obligation to inform the buyer of the amount of SSD payable. The buyer is entitled to deduct the amount of SSD charged, including any penalties imposed due to the seller's failure to pay the SSD, from the purchase price.

Additionally, if the property is non-residential, Goods and Services Tax (GST) may apply. The sale of residential properties is exempt from GST, but for properties with both residential and non-residential portions, only the non-residential portion is subject to GST.

I hope this helps clarify your query!