Ltc gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2012 I have "A" Company shares unlisted in stock exchange Rs. 1,40,00,000\= purchase date 30/03/2006, index cost Rs. 1,78,02,817\= sales on 14/10/2009 Rs. 32,87,65,385\=.....

This LTCG gain rs 32,87,65,385-2,22,27,463\= 31,47,65,385\= i offer @ 20% tax and exemption u\s 54F Rs. 2,22,27,463\= for buy new flat....

so i invest u\s 54F Rs. 2,22,27,463\= so i can invest with in 1 year...

but unfortunately i forget to buy flat, so how to calculate Rs. 2,22,27,463\= tax impact on 31.03.2012.
how to show in Computation of Income
how to calculate ???
is it LTCG Tax or ???
Othrs sources Income... ???

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 For AY 12-13 (FY 11-12) the exemption allowed earlier shall be taxable as long term capital gain under the head Capital Gain.

On such income tax shall be payable @ 20%.

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