Tax on long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2012
i have sold 50000 equity shares of a private ltd co.(unlisted shares)on 28.2.2012 at Rs.5000000/-,these shares were purchased by me at Rs.500000/- on 1.1.2011.(i hold about 14 month)and earn a gain Rs.4500000/-,later on I invested in REC Capital gain tax saving bond of Rs.1500000/- on 15.3.2012 and investment in purchases of Residential flat at Rs.3000000/- on 25.3.2012,i have no flat except that one whether there were any tax liability will arises on me on the said capital gain
21 July 2012
It is short term capital gain.
21 July 2012
Being a smart tax payer, you can get indexation benefit also on the shares sold by you.
.
The long term capital gain arising to you is eligible for exemption under Section 54EC of Rs.15.00lac.
.
However, for getting full exemption of the LTCG, the calculation of exemption U/s 54F is based on the net sales consideration i.e. 50.00lac. In the given circumstances you will get exemption of 30*45/50=27lacs.
.
So if you invest Rs. 18.00 lacs in place of Rs. 15.00 lacs you may enjoy the full exemption benefits.
.
.
The long term capital gain arising to you is eligible for exemption under Section 54EC of Rs.15.00lac.
.
However, for getting full exemption of the LTCG, the calculation of exemption U/s 54F is based on the net sales consideration i.e. 50.00lac. In the given circumstances you will get exemption of 30*45/50=27lacs.
.
So if you invest Rs. 18.00 lacs in place of Rs. 15.00 lacs you may enjoy the full exemption benefits.
.
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