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Ltcg on sale of property

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 May 2017 Dear experts,
on sale of property there has been LTCG of 138470/- pls tell me will this 138470 be exempt or it will be taxable slab wise?

Regards
Anish

01 May 2017 Only those long term capital gains which arises on sale of listed securities are exempt under section 10(38) and as per section 112 long term capital gains other than that are taxable at 20% (and not as per slab).

In your case long term capital gains arises on sale of property and property don't comes under purview of listed securities and hence taxable and same is taxable at 20% and not slab wise

01 May 2017 No tax has to be paid ,if the assessee is an individual or HUF, on the LTCG if no other income or other income is not more than 1,11,530. For details please see proviso to section 112(1)(a).




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