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Capital Gains

N.V.K. Raman (Service) (31 Points)

22 January 2009

Can anyone tell me what is the rate of education cess or other cess related to LTCG tax? Is it calculated on the total tax payable or total LTCG? Can anyone provide a comprehensive calculator for LTCG with provisions for indexation of cost of construction and improvement, stamp duty, other expenses, etc.?

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2 Replies

mahendar Jain (student) (46 Points)
Replied 22 January 2009

it is 3%..it is calculated on total tax payable..

amruta (student) (22 Points)
Replied 23 January 2009

Originally posted by :N.V.K. Raman
"	Can anyone tell me what is the rate of education cess or other cess related to LTCG tax? Is it calculated on the total tax payable or total LTCG? Can anyone provide a comprehensive calculator for LTCG with provisions for indexation of cost of construction and improvement, stamp duty, other expenses, etc.?	"

the rate of education cess is 3% i.e 2% of education cess n 1% of secondary education n higher education cess this is calculated on total tax payable. But if there is only income from long term capital gains without any other heads of income then it is calculated on LTCG .. in case other other heads of income is there in that ltcg is also there then it is calculated on total tax payable ....

indexed cost of improvement

cost of improvement (incurred only after 1.4.81) /index factor for d year in which improvement was made to d asset *index factor for d year of transfer