CG Tax On residential property
This query is : Resolved
11 July 2026
ITR utility 2/3 is calculating tax @15% for sale of residential property purchased before the cutoff date, July 23, 2024, instead of 20% with indexation. How to correct it?
11 July 2026
If you have entered the details correctly in sr. 1 of long term CG (schedule CG) then check the column eii. (excess amount..... Rs. xxx)...
Now check schedule SI.... the taxable amount in column 112A..... this amount xxx is deducted in the tax calculation as per 12.5% rate.... Thus finally it is taxed at 20% with indexation.
Now check schedule SI.... the taxable amount in column 112A..... this amount xxx is deducted in the tax calculation as per 12.5% rate.... Thus finally it is taxed at 20% with indexation.
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