Long term capital gain from sale of land

This query is : Resolved

Sharad Sonawane (Querist)
Follow

04 July 2018 I have sold land and having capital gain now my query is how I have to pay the tax on the same.i heard that if I have not taken the indexation cost than I have to pay the tax at the rate of 10 percent instead of 20 percent.please clearfi.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

04 July 2018 10 % option is not applicable on sale of land.

The benefit of charging long-term capital gain @ 10% is available only in following
cases:

1) Long-term capital gains arising from sale of listed securities and it exceeds
Rs.1,00,000 (Section 112A);
2) Long-term capital gains arising from transfer of any of the following asset:
a) Any security which is listed in a recognised stock exchange in India;
b) Any unit of UTI or mutual fund (whether listed or not) ; and
c) Zero coupon bonds

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok