03 December 2011
Please give me following informations :
(1)Provide me Cost Inflation Index for FY 2011-12 to count Long Term Capital Gain Tax.
(2) On 24.12.2010, I invested 50 lacs for 369 days in Reliance's Fixed Maturity Plan (FMP) @ 9.60% int. p.a. Now, it will mature on 26.12.2012. I will receive interest of Rs. 485000/- (approx). I am in 30% Tax Slab. Now, Should I go for 10% LTCG on this Income OR Cost Inflation Index ? Which will save my more tax ? PL. GIVE ME CALCULATION OF LTCG IN BOTH THE CASES.
CAclubindia
