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TMI Blogcapital gain taxX X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain tax X X X X Extracts X X X X X X X X Extracts X X X X ..... nt year 2014-15 for ₹ 25,00000/- which i am holding for more than three years...The Indexed cost of acquisition is ₹ 1750000/-(approx). My question is 1) Can i take Indexed cost of impr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovement as deduction from sale consideration ₹ 55000 /- expensed in 2011-2012 and ₹ 85000/- in 2012-13 as i do not have any documents regarding such expenditures . 2)what is the rate of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax of LTCG for F/Y 2014-15. 3) how can i get relief or exemption from long term capital gain as per above point(2) . Please give me detail process. Reply By CA GOPALJI AGRAWAL: The Reply: One may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim the the cost of improvement but the onus is on the assessee to evidence the same by way of documentary evidences/explanations. The rate on LTCG is 20%, of course with Educations cess. You ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may claim the exemption u/s 54 by purchasing a new residential house within one year before the transfer or two year after the date of transfer or construct within three years from the date of transf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of the asset. You may also invest on capital gain bonds u/s 54EC. Please note that of you do not invest before the due date of return of income, you are required to deposit the gain amount in cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ital gain account scheme with the designated banks. X X X X Extracts X X X X X X X X Extracts X X X X
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