Long Term capital gain
This query is : Resolved
24 January 2021
Mr.X has sold his shares in Private Limited Company and earned Long term Capital gain of Rs. 75 lakhs in Dec 2020
1) What is the rate at which tax to be paid 10% or 20%
2) He has constructed the house and paid around Rs.40 lakhs for construction
from Jan 2020 to Dec 2020. Whether this amount can be claimed as exemption.
3) In what way he can save the tax
Kindly clarify
1) What is the rate at which tax to be paid 10% or 20%
2) He has constructed the house and paid around Rs.40 lakhs for construction
from Jan 2020 to Dec 2020. Whether this amount can be claimed as exemption.
3) In what way he can save the tax
Kindly clarify
24 January 2021
1 20% tax applicable with indexing.
2 Constitution started before sale exemption can't be claimed.
3 No way.
2 Constitution started before sale exemption can't be claimed.
3 No way.
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