Capital gain
This query is : Resolved
CA PRAVEEN
(Querist)
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??
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
(Expert)
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.
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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15 May 2018
No eligibility to tax @10%. Inference - proviso to section 112(1)(d).
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CA PRAVEEN
(Querist)
15 May 2018
OK THANKS............................
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