Capital gain on sale of property (land or house)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 November 2011
In case of LTCG arising on sale of property, does one have option to pay tax @ 10% and not opt for indexation? Or tax has to be paid @ 20% compulsorily after indexation? Please advise, mentioning relevant provision. Thanks
01 November 2011
rate is 20% with indexation.
option of 10% without indexation is on Shares/units.
option of 10% without indexation is on Shares/units.
01 November 2011
The relevant provisions are contained in Section 112.
First Proviso to Section 112(1) provides an option where an assessee can pay tax @10% without taking indexation benefit in the case of only listed securities, units and Zero coupon Bonds.
The proviso is not having much importance now as U/s 10(38) LTCG is exempt in case of STT paid LTCG on shares and units of equity oriented fund.
First Proviso to Section 112(1) provides an option where an assessee can pay tax @10% without taking indexation benefit in the case of only listed securities, units and Zero coupon Bonds.
The proviso is not having much importance now as U/s 10(38) LTCG is exempt in case of STT paid LTCG on shares and units of equity oriented fund.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
