u/s 10(38) , will the cost of acquisition be indexed or not?
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Section 10(38)
Replies (7)
Indexation is available for long term capital assets.if sec 10(38) is applicable Ltcg is exempt from tax. If it is not exempt, then indexation can be claimed but CG is taxable @ 20%. If indexation is not availed then taxable @ 10%. This benefit can be exercised at the option of assessee.
So the cost may be indexed as explained above if it is not covered by securities transaction tax
Yes, It comes under Income Tax and automatic as well as manual calculation of interest u/s 234A, 234B and 234C. For this you can jump on any of income tax software.
| Originally posted by : Raghuram :-) | ||
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Indexation is available for long term capital assets.if sec 10(38) is applicable Ltcg is exempt from tax. If it is not exempt, then indexation can be claimed but CG is taxable @ 20%. If indexation is not availed then taxable @ 10%. This benefit can be exercised at the option of assessee. |  |
long term capital gain is exempt fromtax U/S 10(38)
| Originally posted by : Anil kumar | ||
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long term capital gain is exempt fromtax U/S 10(38) |
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Cost of acquisition is always indexed even in case of LTCG u/s 10 (38)..
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