There are two ways to collect personal income tax on the sale of a house:

1. The local tax system has the original value data of the house, or the seller can provide the exact original value data of the house. :

Amount of tax payable = (tax calculated price - original value of the house - original deed tax - reasonable expenses such as taxes paid for this transaction) × 20%.

For example, for a house worth 5 million yuan, the original value is 4 million yuan, and the reasonable expenses such as the original deed tax and the tax paid on this transaction are 50,000 yuan, then the tax payable = (500-400-5)*20= 190,000 yuan.

2. The local tax system does not contain the original value data of the house, and the seller cannot provide the exact original value data of the house:

Tax payable = tax price × 1 %.

For example, for a property worth 5 million yuan, the tax payable is 500×1%=50,000 yuan.

Whether personal income tax needs to be paid when selling a house, there are three situations:

1. Non-residential houses cannot be exempted or exempted (must be paid).

2. If the house sold by the seller is the family’s only residence and was purchased for more than 5 years, personal income tax is exempted.

3. The family’s only residence but the purchase time is less than 5 years, cannot be exempted.

If it falls into situations 1 and 3, tax needs to be paid according to the above collection methods.

Personal income tax regulations for selling houses

According to the provisions of the Personal Income Tax Law: Individual income from selling self-owned houses should be levied personal income tax according to the "income from property transfer" item.

1. Personal income tax is levied on income from housing transfer, and the actual transaction price is the transfer income. If the housing transaction price declared by a taxpayer is significantly lower than the market price without a normal reason, the tax authorities have the right to assess the transfer income based on relevant information, but must keep the tax calculation basis for each tax type consistent.

2. To calculate personal income taxable income from the transfer of housing, taxpayers can rely on valid documents such as house purchase contracts and invoices, and after review by the tax authorities, they are allowed to deduct the original value of the house from their income. , taxes and related reasonable expenses paid during the transfer process.

3. The taxes paid during the transfer process refer to: business tax, urban construction tax, education surcharge, land value-added tax, stamp tax, etc. paid by the taxpayer when transferring the house.

4. Reasonable expenses refer to: unified tax invoices, housing loan interest, handling fees, notary fees, etc. that taxpayers actually pay for decoration expenses in accordance with regulations.

5. If the taxpayer cannot provide complete and accurate vouchers for the original value of the house and cannot correctly calculate the original value of the house and taxable income, the tax authorities may, in accordance with Article 35 of the "Tax Collection and Administration Law", The approved levy shall be determined within the range of 1%-3%.

6. Income derived from the transfer of a house that has been used by an individual for more than five years and is the family’s only living room is exempt from personal income tax.