Income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2011 What is tax rate of capital gain?. Long term capital gain in investment of plot if assesses senior citizen .

Thanks & Regards

Rakesh

Bhaskaran Chackrapani Warrier (Expert)
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28 July 2011 20%. Pl see section 112(1)(a)(ii) of the income tax Act,1961.

Aditya Maheshwari (Expert)
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28 July 2011 20% + 3% cess. So effective rate is 20.6% on the gain for all assessees.

Bhaskaran Chackrapani Warrier (Expert)
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28 July 2011 I stand corrected. Effective rate is 20.60%.

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