Long term capital gain on sale of property
This query is : Resolved
pratapchaudhary
(Querist)
12 January 2018
Hi, Suppose I have sold Property of inr 180000 and Purchase value of property is 0. Total income in this year is also inr 180000. so i want to know that this income is taxable as per LTCG rate or it may be exempted due to low income as per slab rate
Renu Goyal
(Expert)
12 January 2018
if total income excluding long term capital gains falls short of maximum amount not chargeable to tax then LTCG will be reduced by such shortfall and on balance LTCG tax will be computed.
pratapchaudhary
(Querist)
12 January 2018
Mam but income is only sale of property is inr 180000. it is taxable or not
Renu Goyal
(Expert)
12 January 2018
Totally exempt as it does not exceed maximum amount not chargeable to tax
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