Your blog states :”You can chose not to
avail the indexation benefit, and attract a 20% tax, or avail indexation, and attract a 10% rate.”
Should that not be the other way around? My understanding is that LTCG calculated taking into account indexation would be taxed at 20%.

hi sir
u r very gud in this taxation.i just want to know that if i purchased one asset or property in 2009 and i just sold it in 2010.and i earned profit of 2 lacs.thn what would be my tax liability on it..just a simple question….

What is the taxation for realestate for NRI ?

Dear Sir,

I want to know if a domain name is considered as capital asset in Indian income tax system ?

Thank you

Hi Vicky,

I am glad you find the article useful. Your appreciative comments keep me going.

About your question – If the flat (I am assuming it is self owned, residential flat) is sold AFTER three years, that would make it a long term capital asset, and the CAPITAL GAIN arising would be taxable.

However, the capital gain is not taxable if
1) the assessee purchases a residential flat/house within 1 year before the transfer or 2 years after the transfer
2) constructs a residential flat/house within 3 years after the transfer, and the new house is not transferred within three years.
3) the amt of CAPITAL GAINS is invested in specified securities, and the same are not transferred within 3 years. The amt is limited to Rs 50 lakhs.

I hope that answers your question.

Thank you, Rajesh

I am glad you like the site.

A Wonderful site. Appreciate your effort.

Thanks

Rajesh C Menon
Dubai

hey Sid , u good in finance stuff as well

i never knew inflation is also taken into consideration while calc captial gain tax

1 quick question though….is there no capital gain tax on flats sold after 3 years of purchase?

thnks
Vicky
http://www.vickyadvani.blog.co.in