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CAPITAL GAIN

HANNAN SHAIK (291 Points)

09 March 2020

Sir my capital gain after sale of house property is below 5lacs.. is it taxable?? as my gain is below slab rate....

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2 Replies

Kapadia Pravin (17249 Points)
Replied 09 March 2020

Yes it is taxable. LTCG / STCG is taxed at a flat rate and not as regular total income.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 09 March 2020

It depends..

If it is short term capital gain then rebate is applicable .So there won't be any tax upto 5lacs.

However long term capital gain is taxable since tax payer get benefit in the form of indexation and other 54 series deductions.No rebate applicable.It is taxable..

Under both the cases upto 250000/- exempt