Capital gain
This query is : Resolved
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??
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.
Message likes :
1 times
15 May 2018
No eligibility to tax @10%. Inference - proviso to section 112(1)(d).
Message likes :
1 times
15 May 2018
OK THANKS............................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
