LTCG u/s 112 A

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CA
28 Points Posted on 20 November 2021
Is exemption u/s 54/B/D etc allowed from LTCG u/s 112A?
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On 20 November 2021 at 13:21 Report
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This discussion clarifies whether exemptions under sections like 54, 54B, or 54D are permissible for Long Term Capital Gains (LTCG) taxed under section 112A. The consensus is that these exemptions are not allowed. Tax under section 112A is levied at 10% on gains exceeding £100,000, with no provision for such deductions.

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4 Points Posted on 20 November 2021
No. Tax u.s 112A is @ 10% exceeding 100000 and no such deduction.
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On 20 November 2021 at 14:38
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Chartered Accountant
24588 Points Posted on 21 November 2021
No absolutely not
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On 21 November 2021 at 05:47

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