Ltcg on sale of property without indexation

This query is : Resolved

Akshay Deshpande (Querist)
Follow

26 June 2019 Is is possible to opt for LTCG without indexation for property sale?

A plot bought in 1999 for 50,000 was sold in 2018 for 1400000.

With indexation Capital gain comes approx 1250000 (Taxed at 20% apprx 250000)
Without indexation Capital gain is 1350000 (Taxed at 10% apprx 135000)

Can I calculate LTCG in this case without indexation and pay less tax?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

26 June 2019 The option of paying tax at 10% without indexation is only available in the case of financial assets like mutual funds and the like; it is not available in the case of immovable property – for property, the tax has to be calculated at 20.8% post indexation.

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