long term capital gain

Sale of equity shares and equity-oriented mutual funds, held for more than one year, on or after April 1, 2018 will be chargeable to tax at 10 percent plus cess (sec. 112A)

If you are an NRI, then you have to pay tax @ 10% without giving effect to indexation on your LTCG, instead of paying tax @ 20% after giving effect to indexation. This rate is applicable only if the LTCG arise from sale/transfer of unlisted securities
 

LTCG on equity shares and equity oriented MF @ 10% beyond exemption of 1 lakh

good clarification and information

Hello Team


Need your help/suggestion.


I have given my property on development agreement to the builder. I have received two flats as my share in this development agreement.


I have retained these flats for my self possession. I have calculated the Capital Gains on my property basis indexed value of year 1st April 2001 and sub registrar market valuation of the property of year 1st April 2001 ( Flat was actually purchased by me in the year 1984, hence, 1st April 2001 Base Index Value is considered). And I have considered the market value of the flat as per the sale price of flat sold by the builder from his share (Date of sale is the same date of Occupancy certificate received from the municipal authorities).


By doing the above calculation there is a Capital Gains coming up on the full overall property valuation (Two Flats). I would like to know do I have to pay the capital gains tax on this transaction or is there any exemption allowed ?


I have retained these two flats for my self possession and there is no sale or monetary transaction involved in my agreement. So I am of the opinion that there is No Capital Gains Tax applicable on this transaction.


I have received two units (two flats) in this development agreement, both are retained for self post. 


I need your expertise help and assistance to know if I have to pay any Capital Gains Tax or is it exempted as there is no sale involved, though I received two units (two flats) by giving one unit in development agreement with builder.

Do I have to disclose the Capital Gains received on the property on my IT returns and mention that it is exempted as it's occupied for personal use and there is no sale transaction involved. Kindly guide me, basis your confirmation I will progress with filing IT returns now.

Thanks and regards

Nitin