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Ltcg

426 views 3 replies

vadiraj

ryjyy

71 Points Joined June 2011

Friends pls clarify below doubts regarding capital gain, 1) if unlisted debentures are sold during 1-4-14 to 1-10-14, then the period of holding, if the assets has to be considered as long term, should be 36 months or 12 months? 2) if listed equity oriented mutual funds are sold(long term assest), then will the assessee have the option to tax it @ 20% without claiming indexation?

Replies (3)

CMA Poornima Madhava

CMA

13117 Points Joined May 2009

1) Period of holding for unlisted debentures is >36 months to be long term capital asset (listed debentures are treated as long term capital asset if held for >12 months)

2) If transaction is subject to STT, then LTCG is exempt from tax else compute LTCG @ 10% without indexation or @ 20% with indexation, whichever is beneficial

vadiraj

ryjyy

71 Points Joined June 2011

thanks for the reply

Gnanashekar.R

Chartered Accoutant

64 Points Joined September 2009

if land period of holding is more than 36 month and building period of holding is less than 36 months How to calculate capital gain? is building separate and land separately calculated. ?