Query : long term capital gain
This query is : Resolved
19 August 2013
I had invested Rs 10000 in 1000 units of UTI CCP scholarship plan in Oct 2000.And as per the provision of the said scheme the redemption proceeds
is payable to the beneficiary after completion of 18 years of age in 4 instalments(1 instalment every year).
I want to know in the above case how it will be treated for the calculation of the long term capital gain tax and what will be the capital gain tax rate in the above case
i.e. whether it will be 20 %,10 %,or 0% and if it can be assumed that security transaction tax is paid by UTI in the above case.
is payable to the beneficiary after completion of 18 years of age in 4 instalments(1 instalment every year).
I want to know in the above case how it will be treated for the calculation of the long term capital gain tax and what will be the capital gain tax rate in the above case
i.e. whether it will be 20 %,10 %,or 0% and if it can be assumed that security transaction tax is paid by UTI in the above case.
20 August 2013
Information as per the Brochure -
.
Any long term capital gain arising on redemption of units by residents is subject to treatment indicated under Section 48 and 112 of the Income Tax Act, 1961. Long term capital gains in respect of units held for more than 12 months is chargeable to tax @ 20% after factoring the benefit of cost inflation index
.
or tax @10% and the surcharge thereon without indexation.
.
.
Any long term capital gain arising on redemption of units by residents is subject to treatment indicated under Section 48 and 112 of the Income Tax Act, 1961. Long term capital gains in respect of units held for more than 12 months is chargeable to tax @ 20% after factoring the benefit of cost inflation index
.
or tax @10% and the surcharge thereon without indexation.
.
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
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Applicability
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
