Capital gain tax on Industrial Godown on Tenancy ?

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  1. PREMCHAND GUPTA

    PREMCHAND GUPTA New Member

    Mumbai, 19/09/2016
    Hi,
    I would like to know whether the Capital gain is also available for the Industrial Property / Industrial Godown or available only to Residential property. Do we get the same Cost Inflation Indexing purchased in 2007 and sold in 2017-18 on this property for Calculating / Investing the Capital Gains in Bonds under 54EC and / or for the payment of Capital gain Tax @20%.
    Please advice, Thanks
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes you can claim benefit of Indexation using the Cost Inflation Index for Industrial Land as well.

    You can also claim exemption under Section 54EC for the same.
     
  3. PREMCHAND GUPTA

    PREMCHAND GUPTA New Member

    Hi,
    I would like to give more clarity on it.
    It is not only an industrial land but industrial shed with rights on land under it in an industrial/ godown complex.
    I heard that Inflation indexing available only for resident sale and in case of any other property full consideration is need to be invested .
    Please advice, thanks,
    PREM GUPTA
     
  4. PREMCHAND GUPTA

    PREMCHAND GUPTA New Member


    Hi,
    I would like to give more clarity on it.
    It is not only an industrial land but industrial shed with rights on land under it in an industrial/ godown complex.
    I heard that Inflation indexing available only for resident sale and in case of any other property full consideration is need to be invested .
    Please advice, thanks,
    PREM GUPTA
     
  5. Dear Sir,

    resident means not only individual. it may be firm, company etc.. but residential status as per section 6 shout be resident to get indexation benefits.
     
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