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
CA Aditya Goel
(Expert)
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.
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.
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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