Proviso to Sec 112(1)(a)

Pravin Chavan (Chief Financial Officer)   (24 Points)

19 July 2009  

Hi,

I have a querry. In case of an Individual assessee having total income other than LTCG, less than minimum exemption limit and also having LTCG on sale of property.  Thus, the proviso to Sec 112(1)(a) for relief is applicable. 

Can the "A" claim the benefit of Indexation ? What will be the rate of tax on LTCG on sale of property ?   In the reutrn of income ITR - 2,  if the proviso to Sec 112(1)(a) is applicable, cost of acquisition without indexation is only to be deducted. 

can anyone explain?

CA Pravin Chavan