17 April 2023
My mother has sold a society flat in December 2022 for ₹35 lacs. The Flat was purchased in June 2016, Purchase Price was ₹20 lacs , stamp duty ₹140000 , registration fees ₹10000. Long tern capital gain is coming as ₹804356 (35 lacs - 21.50 lacs/264*331) , this capital gain amount we want to invest in fixed deposit. I want to know long term capital gain is taxable at normal slab rate or it is taxable at special rate @20% ? ( My mother had no other income ).
17 April 2023
1. Capital gains... Long term taxed at 20% rate + cess (after basic exemption limit) 2. Any fixed deposit will not be eligible for exemption of LTCG. 3. You can invest in sec. 54 capital gains bonds to get the LTCG exemption.
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