Tax on capital gains @ 10% without Indexation

Share
Share This Thread
  1. V K Khanna

    V K Khanna Active Member

    Tax on long term capital gains after benefit of indexation is levied at 20%. However, if the indexation benefit is not availed of, Sec 112 provides for tax on LTCG @ 10%. Is the rate of 10%
    (without indexing) on long term capital gains, applicable in the case of sale of residential property?
     
  2. krishnamurthy

    krishnamurthy New Member

    I too wants to know the answer.
     
  3. king999maker

    king999maker Active Member

    yes applicable
     
  4. V K Khanna

    V K Khanna Active Member

    I have been informed that a concessional rate of 10% is applicable only in the following cases:-
    1) Listed shares, listed bonds/debentures
    2) Government securities
    3) Units of UTI or a mutual fund (listed or not)
    4) Zero coupon Bonds
    I could not locate any provision in the IT Act where this concession is applicable in the case of sale of residential property. I shall be grateful if I am enlightened with the concerned Section of IT Act or order of the Income Tax Deptt. Thanks.
     
  5. Sankeeth

    Sankeeth New Member

Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Capital Gains tax Income Tax Feb 12, 2018
Capital gains bonds investment in the name of deceased person Income Tax Feb 9, 2018
CAPITAL GAINS ON SALE OF PROPERTY Income Tax Jan 6, 2018
Capital Gains on House Property Income Tax Dec 31, 2017
business profit&capital gains Income Tax Dec 22, 2017