CAN WE APPLY TAX LTCG ON SALE OF LAND @ 10% WITHOUT INDEXATION OR NORMAL TAX SLABS OF AN INDIVIDUAL???
Neha Bhattar (none) (170 Points)
02 August 2013CAN WE APPLY TAX LTCG ON SALE OF LAND @ 10% WITHOUT INDEXATION OR NORMAL TAX SLABS OF AN INDIVIDUAL???
1)Long-term gains arise if you sell listed securities, zero coupen bonds etc after holding for at least 12 months and are taxed at 20% with indexation and 10% without indexation
this does not apply to land.
2)for individuals/HUF, if the total inc- LTCG is below taxable, then the difference will be reduced from LTCG and flat rate of 20% will be charged
CA Payal Agarwal
(Executive Officer)
(25 Points)
Replied 02 August 2013
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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