LTCG
This query is : Resolved
samir thakkar
(Querist)
19 July 2011
My client has sold a property and made LTCG. He wants to be sure whether he can have tax paid @ 10 % or he has to cumpolsarily pay tax @ 20 % since his cost price for sale of tenancy rights is nil.
CA PARAS BAFNA
(Expert)
21 July 2011
Tenancy right if sold after completion of 3 years then, the amount received on sale of it will be treated as LTCG.
Applicable Rate of Tax for LTCG is 20%.
You can convince him by telling that
10% Tax rate is applicable only in the case of listed securities or units or zero coupon bonds where indexation is not opted.
Applicable Rate of Tax for LTCG is 20%.
You can convince him by telling that
10% Tax rate is applicable only in the case of listed securities or units or zero coupon bonds where indexation is not opted.
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