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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 July 2011 What is tax rate of capital gain?. Long term capital gain in investment of plot if assesses senior citizen .


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Rakesh
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 July 2011 20%. Pl see section 112(1)(a)(ii) of the income tax Act,1961.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 July 2011 20% + 3% cess. So effective rate is 20.6% on the gain for all assessees.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 July 2011 I stand corrected. Effective rate is 20.60%.
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