I sold a land before 3 year and made some capital gain on that. I indended that CG for excemption u/s 54. but i didn't use for that purpose, need i want to pay Income tax with interest? if any what is the percetage and other conditions?
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Need i pay interest to cg
Replies (1)
Hi,
I don't get the word 'indended'..is it indexed or intended?
If it is indexed...you cannot index STCG.
as for intended, Income tax is payable @ 15% (special rate) on the amount of STCG.
Interest is payable if you don't pay tax on time.
Regards
Prateek
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