Master in Accounts & high court Advocate
9615 Points
Posted on 12 November 2024
Under Section 112A, you can deduct Rs. 125,000 from the gain, and the balance amount of Rs. 54,000 will be taxable under capital gains tax.
Here's the calculation: Rs. 179,000 (gain) - Rs. 125,000 (deduction) = Rs. 54,000 (taxable capital gain) So, Rs. 179,000 is not fully taxable.
You can deduct Rs. 125,000, and only Rs. 54,000 will be subject to capital gains tax.