Capital gains

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Querist : Anonymous (Querist)

18 March 2012 how much investments time become capital gains on its sales .

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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18 March 2012 There are 2 types of Capital gains
1) Long Term
2) Short Term
The capital gain is calculated on the basis of time for holding the assets and the time limit is
1) For Shares it is 1 year and above for long term and below 1 year for short term
2) For other assets the time period is 36 months and above for long term and below 36 months it is short term
In case the assets are under the long term then the index cost is to be calculated and the tax @ 20% is to be paid in case of assets other than shares & Securities.
In case of short term assets other than shares you have to pay tax @ 30%
Log term capital gains on shares is exempted whereas the short term is charged @15%
If you are selling the assets on which you have claimed depreciation then the same is to be treated as short term capital gain and tax @ 30% is to be charged.
In case of long term capital gains other than shares up to 50 lacs you can invest in Bonds as required u/s 54EC and to that extant no capital gain shall be paid and the lock in period is 3 years but the interest on bond is taxable.
If you are investing the capital gain for residential house then also you to follow the provision of section 54 and 54F

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