Tax on long term capital gain

177 views
User Avatar

Manager
25 Points Posted on 13 July 2017

We are planning to sold a plot and will earn approx. 27 lakh long term capital gain after indexing from it. That plot is on the name of my mother (age 63 yrs, house wife) and has no other income source. Our one house is also on her name. What will be the Tax liability?

 

0 Reply Share Follow
On 13 July 2017 at 15:23 Report
Replies (2)
User Avatar

SEO Sai Gr. Hosp.
212503 Points Posted on 13 July 2017

20% + Cess is the tax rate (over 24 lakhs)........... unless deduction for any or all of the 27 lakhs invested in 54EC bond for 3 years.

1 Reply
On 13 July 2017 at 15:25
User Avatar

Team Lead
7558 Points Posted on 14 July 2017
if the LTCG is invested in NHAI bonds under 54 ec or if it is invested in a residential property then whole of the capital gains wud be exempt from tax in the hands 9f your mother
Reply
On 14 July 2017 at 00:09

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. LTCG on property sale
  2. Capital gains incidence due to bonus shares
  3. Amendment of Object Clause of Memorandum
  4. How Can I Request a Refund for an Accidental Airte
  5. TDS on salary paid in cash
  6. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
  7. Last Date To Fill ITR For Non-Audit Case
  8. Guidance Required on Filing Fresh Registration und
  9. IT Return Refund Status AY 2026-27
  10. Clarification Regarding Income Tax Demand Notice

More recent discussions | Post

Related Topics :

Loading