Please Wait ..

to your account


Remember Me

Forgot your password?

Sign-up now

Join and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Discussion > Income Tax > Tax queries >

Proviso to Sec 112(1)(a)

    Post New Topic
Pages : 1

Related Files

Chief Financial Officer

[ Scorecard : 24]
Posted On 19 July 2009 at 22:03 Report Abuse


I have a querry. In case of an Individual assessee having total income other than LTCG, less than minimum exemption limit and also having LTCG on sale of property.  Thus, the proviso to Sec 112(1)(a) for relief is applicable. 

Can the "A" claim the benefit of Indexation ? What will be the rate of tax on LTCG on sale of property ?   In the reutrn of income ITR - 2,  if the proviso to Sec 112(1)(a) is applicable, cost of acquisition without indexation is only to be deducted. 

can anyone explain?

CA Pravin Chavan

Online classes for CA CS CMA

Share on

CA CS Bhumika Thakkar

[ Scorecard : 1603]
Posted On 20 July 2009 at 02:05

d limit of basic exemption can be LTCG will be taxed at 20 % and indexation is allowed..

Arpit Gupta
Chartered Accountant

[ Scorecard : 95]
Posted On 20 July 2009 at 13:36

if a person having LTCG, but his income is less than exemption limit,  he can definetly claim the benefit of exemption limit. He should shift his LTCG towards his balancing exemption limit.

if there is LTCG along with STCG then first the LTCG is shifted and then STCG

rate of LTCG u/s 112(1) is 20%

if it is LTCG then indexation  will certainly allowed. Indexation is not allowed only in following cases -

1. Slump Sale u/s 50B

2. Debentures and bonds except Capital Index Bond

3. in case of NRI's Sec.115A to 115D

Hence cost of acquition along with indexation is allowed to be deducted


There are 2 Replies to this message

Related Threads

Post your reply for Proviso to Sec 112(1)(a)

Your are not logged in . Please login to post replies

Click here to login

Not a member yet ?? Click here to signup



  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.

Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top