Capital gain

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CA PRAVEEN (Querist)
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15 May 2018 One assesses sale plot being hold LONG TERM, he is calculating tax on sale of property at @ 20% with indexation....Now he is calculating LTCG without indexation @ 10%.........
His tax in case of without Indexation is lower than tax with indexation.
Can he want to pay tax without indexation as lower than indexation.... ANY PROBLEM WILL ARISE IN FUTURE. KINDLY CLEAR??

CA. Mohit chaturvedi

CA. Mohit chaturvedi (Expert)
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15 May 2018 Dear Mr Praveen,

Capital gain being LTCG computation @10% without indexation is limited to capital assets being Specific Shares and Debentures and Bonds.
Plot and Land properties are not allowed to compute taxation without indexation and @10%, hence there is no scope of that kind, and no option to getting confused.
Thanks for the query.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 May 2018 No eligibility to tax @10%. Inference - proviso to section 112(1)(d).

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CA PRAVEEN

CA PRAVEEN (Querist)
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15 May 2018 OK THANKS............................

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