Payment of capital gains tax without Cost Inflation Indexation @10%...

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  1. shaheenazk

    shaheenazk New Member

    I would like to know that can I pay capital gains tax without cost inflation indexation @10% on sale of immovable property like land or house?
     
  2. king999maker

    king999maker Active Member

    NO, The long‐term capital gain is usually taxed at 20.6% with indexation or 10.3% without indexation whichever is lower. However, with the announcement of union budget for FY 2014-15 (AY 2015-16), the 10.3% without indexation is proposed to be removed. The investors will now offer long‐term capital gain tax after three years at the rate of 20% with indexation. (10% with indexation to be removed). This will take effect from 1 April 2015.
     
  3. shaheenazk

    shaheenazk New Member

    I see. The FM should not have done this. It's very discouraging. Thanks for the reply.
     
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