Long term capital gain from sale of land
This query is : Resolved
Sharad Sonawane
(Querist)
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.
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
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
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