Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2013
Asseessee sold the office premises. How the LTCG tax is payable. Whether 10% on capital gain or 20% after considering CII.
For eg
1) Sales Price is Rs 1 Lac. Purchase price is Rs 25000/-. Capital Gain Rs 75000/- Then 10% is Rs 7500/-
2) After considering Cost of Acquisition. ie Cost considering CII is Rs 40000/-. Capital gain is Rs 60000/-. 20% thereof is Rs 12000/-
3) Whether 7500/- or 12000/- is payable
For eg
1) Sales Price is Rs 1 Lac. Purchase price is Rs 25000/-. Capital Gain Rs 75000/- Then 10% is Rs 7500/-
2) After considering Cost of Acquisition. ie Cost considering CII is Rs 40000/-. Capital gain is Rs 60000/-. 20% thereof is Rs 12000/-
3) Whether 7500/- or 12000/- is payable
27 June 2013
This 10% / 20% distinction is applicable only for listed securities or units or zero coupon bond. For details refer proviso given to section 112 (1) (d).
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