Capital gain tax

For plot or immovable property, Long Term capital gains is calculated only based on indexation with 20% tax. The other option not applicable.

Generally, long-term capital gains are charged to tax @ 20% (plus surcharge and cess as applicable), but in certain special cases, the gain may be (at the option of the taxpayer) charged to tax @ 10% (plus surcharge and cess as applicable). The benefit of charging long – term capital gain @ 10% is available only in following cases :

1) Long-term  capital  gains  arising  from  sale  of  listed  securities and  it  exceeds  Rs.  1,00,000 (Section 112A);

2) Long-term capital gains arising from transfer of any of the following asset:

a) Any security which is listed in a recognized stock exchange in India;

b) Any unit of UTI or mutual fund (whether listed or not) and

c) Zero coupon bonds

Refer::  incometaxindia/tutorials/20 ltcg

Long-term capital gains arising from transfer of specified asset A taxpayer who has earned long-term capital gains from transfer of any listed security or any unit of UTI or mutual fund (whether listed or not),not being covered under Section 112A,and Zero coupon bonds shall have the following two options:

a. Avail of the benefit of indexation; the capital gains so computed will be charged to tax at normal rate of 20% (plus surcharge and cess as applicable).

b. Do not avail of the benefit of indexation; the capital gain so computed is charged to tax @ 10% (plus surcharge and cess as applicable). The selection of the option is to be done by computing the tax liability under both the options, and the option with lower tax liability is to be selected. 

Above option of 10% Tax on LTCG Restricted to specified assets not applicable on plot of land.