Dear Sirs ,
Please help in filling Schedule CG of ITR 3 (Online filing)
HOUSE PROPERTY Sale Details
Date of Purchase : 11.10.2012
Date of Sale : 25 .11.2024
I want to avail Indexation benefit as there will be "Long Term Capital LOSS" when i do Indexation of Cost.
I want to choose Choose Indexation Option for LTCG in Schedule CG of ITR 3.
But while filling Form , the default calculation is coming on basis of 12.5 % Tax on LTCG Tax.
Please help how to select Indexation option in ITR 3.
The Cells are uneditable and the system is auto-computing LTCG on basis of 12.5%
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Unable to Enter Values Indexed Cost on Sale of House Property in "Schedule CG" of ITR 3
Replies (1)
For properties purchased before April 1, 2023, and sold after July 23, 2024, taxpayers can choose between:
1 Indexation benefit: Pay 20% tax with indexation.
2. No indexation: Pay 12.5% tax without indexation.
Steps to Check:
- Verify if the ITR 3 form allows selecting the indexation option in Schedule CG.
- Check if there are any specific instructions in the ITR utility or tax department guieelines for this scenario.
- If the fields are uneditable and auto-computing at 12.5%, consult a tax professional for personalized guidance. or else check latest updates and notifications from I.T. dept.
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