Budget updates move fast, keep up with CAclubindia Pro. Subscribe today!

Indexation benefit

Tax queries 569 views 3 replies

manish

author

68 Points Joined June 2010

Dear friends,

Whether on LTCG in respect of an immovable property, can we calculate the tax liability with out taking the benefift of indexation, i.e., @ 10%?

regards

Replies (3)

Guest

dear manish

according to proviso to sec.112 the benefit of indexation can only be taken on security,units and zero coupan bonds.so u can not claim benefit of indexation on immovable property.

regards

tarun rustagi

Harpreet

* * * * * *

1670 Points Joined March 2008

I think Mr. Rustogi has wrote incorrect words as per my knowledge indexation must entertained whenever we deal in immovable property.

Guest

dear harpreet

plz read the query again and again reply.the question is about the rate of tax i.e 10% or 20%.in this case he will be liable to pay tax @ 20% as he wants to claim rate of 10% without indexation.

waiting for ur views again.

regards

tarun rustagi