04 August 2010
A had sold a property after holding it for more than 36 months. the capital gains was computed according to index cost . the entire capital gains amount was kept in fixed deposit in a nationalized bank.now 36 months has elapsed without A reinvesting the amount in another property.what will be the percentage of tax he has to pay on his capital gains since he doesn't want to reinvest the money. Thanks in advance. Vinod.
04 August 2010
Dear Sir The Long term Capital Gain tax rate will be applicable for the Long Term Capital Gain Amount since he dint invested with in the said period. For the Deposited Amount the Interest will be taxable separately under the head Income From Other Sources.
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