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Capital gain on sale of property (land or house)

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Querist : Anonymous

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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
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CA Aditya Goel

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CA Aditya Goel (Expert)
01 November 2011 rate is 20% with indexation.
option of 10% without indexation is on Shares/units.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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.
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