Beruflich Dokumente
Kultur Dokumente
22/06/2019
Any profit or gain that arises from the sale of capital asset is capital
gain - ie gain treated as income which needs to pat tax ie Gain Tax
Short term capital gain tax - capital gain added to income tax return
and the taxpayer is taxed accordingly to his income tax slab
Assessees can get an exemption from long term capital gains from the
sale of house property in up to two house properties against the earlier
provision of one house property with same condition provided capital
gains on the sale of house property must not exceed Rs 2 Crores
The gains can be deposited in a PSU banks or other banks as per the
Capital Gains Account Scheme, 1988. This deposit can then be claimed
as an exemption from capital gains and no tax has to be paid on it
If the amount deposited as per Capital Gains Account Scheme was not
used - treated as capital gains of the year in which the period of two
years from date of sales of land expires
Avinash Kulkarni
9822011051
Chartered Engineer
Govt Approved Valuer
IBBI Read Valuer