Capital gain on sale of property (land or house)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 November 2011
In case of LTCG arising on sale of property, does one have option to pay tax @ 10% and not opt for indexation? Or tax has to be paid @ 20% compulsorily after indexation? Please advise, mentioning relevant provision. Thanks
01 November 2011
rate is 20% with indexation.
option of 10% without indexation is on Shares/units.
option of 10% without indexation is on Shares/units.
01 November 2011
The relevant provisions are contained in Section 112.
First Proviso to Section 112(1) provides an option where an assessee can pay tax @10% without taking indexation benefit in the case of only listed securities, units and Zero coupon Bonds.
The proviso is not having much importance now as U/s 10(38) LTCG is exempt in case of STT paid LTCG on shares and units of equity oriented fund.
First Proviso to Section 112(1) provides an option where an assessee can pay tax @10% without taking indexation benefit in the case of only listed securities, units and Zero coupon Bonds.
The proviso is not having much importance now as U/s 10(38) LTCG is exempt in case of STT paid LTCG on shares and units of equity oriented fund.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- Consolidated financials
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
