My question is related to Proviso to Section 112(1) which is as follows
Provided that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities or unit or zero coupon bond, exceeds ten per cent of the amount of capital gains before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee
My question is
In case of Capital gain of more than one asset how to apply the provisions of proviso to Section 112(1)
On each Capital Gain separately or on combined amount of capital gain from all the assets.
For e.g.
Income under head Capital Gain (all Long Term)
|
LTCG with Indexation |
capital gain without Indexation |
Listed Securities of A Ltd. |
10000 |
18000 |
Listed Securities of B Ltd. |
15000 |
32000 |
House Property |
(5000) – Loss |
2000 |
|
|
|
Income from other Sources – 180000
Compute the Tax Payable on LTCG for A Y 2012-13