LTCG Tax
This query is : Resolved
Quick Summary
29 December 2020
I have received one fourth of sale proceeds of ancestral property as my share. I invested a large part of it in infra bonds. Seller has already deposited TDS @10% as per our form 26. How to show it in ITR.
KAVIRAJA ADDANGADI
(Expert)
29 December 2020
Extent notified Infra bonds with 5year locking period are exempted from capital gain , balance gain raised after indexation is taxable @20%
Interest accrued from capital gain bonds is taxed on accrual basis income from other sources along with other head of income if it exceed taxable threshold limit
Interest accrued from capital gain bonds is taxed on accrual basis income from other sources along with other head of income if it exceed taxable threshold limit
02 October 2021
File ITR 2, declare the details under Schedule CG, with deduction under 54EC.
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