Long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2014
Hi,
Need some urgent help. Can someone please confirm whether Option 2 (as mentioned below) on Sale of Commercial property is available
Option 1 - Tax @ 20% if indexation benefit is availed
Option 2 - Tax @ 10% if indexation benefit is not availed
Need some urgent help. Can someone please confirm whether Option 2 (as mentioned below) on Sale of Commercial property is available
Option 1 - Tax @ 20% if indexation benefit is availed
Option 2 - Tax @ 10% if indexation benefit is not availed
11 March 2014
Option 2 is not available for the commercial property it is available in the case of units only(for all other assets this option not available)
Thus tax @20% shall be pay on long term Capital gain.
OM SAI SRI SAI JAI JAI SAI
Thus tax @20% shall be pay on long term Capital gain.
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2014
Thanks Dintakurthi for your advice. However, there are contradictory views given by different authors. For eg: please visit this link http://www.taxbingo.com/capital_gains.html... it says Option 2 is available for house property. Can you please advice which option shoould I then prefer (Option 2 is more beneficial for me)
11 March 2014
The information specified in the link provided by you is not correct.
Please click on the below link it will give you clear information about it and supports your doubt.
http://www.indiataxes.com/Information/incometax/contents/capitalgains/cap_tax_com.htm
OM SAI SRI SAI JAI JAI SAI
Please click on the below link it will give you clear information about it and supports your doubt.
http://www.indiataxes.com/Information/incometax/contents/capitalgains/cap_tax_com.htm
OM SAI SRI SAI JAI JAI SAI
04 October 2021
Long term capital gain over any immovable property is charged at 20% with indexation. No other option.
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