Capital gains ka computation karte waqt, jo income "Capital gains" ke head under chargeable hoti hai, usse calculate karte waqt aapko kuch cheezein deduct karni padti hain. Yeh deductions aapko un cheezon se karni hoti hain jo aapne capital asset transfer karte waqt kharch ki hoti hain.
1. **Transfer se related expenses**: Jab aap apne asset ko transfer karte hain, to jo bhi kharch hota hai (jaise brokerage fees, stamp duty, registration fees, legal expenses, etc.) un sab ko deduction ke roop mein consider kiya jaata hai. Yeh directly transfer se related expenses hote hain.
2. **Cost of acquisition aur improvement**: Aapne jo asset acquire kiya uska original cost aur agar aapne usme koi improvement ki hai to us improvement ka cost bhi aap deduct kar sakte hain. Lekin, yeh dono costs include nahi karenge agar aapne interest deduction liya ho under section 24(b) ya Chapter VI-A ke provisions ke under.
- Section 24(b) ke under aapko jo loan ka interest deduction milta hai house property ke acquisition, construction, repairs, etc. ke liye, wo capital gains calculate karte waqt include nahi kiya jayega.
- Chapter VI-A ke sections 80EE aur 80EEA me bhi interest ka deduction diya gaya hai agar aap house property acquire karne ke liye loan lete hain, lekin yeh interest bhi capital gains calculate karte waqt cost of acquisition ya improvement mein nahi add kiya jayega.
Matlab, jab aap capital gains calculate karenge, to aapko yeh deductions dhyaan mein rakhna hoga aur sirf woh expenses ya costs consider karni hain jo directly asset ki transfer aur improvement se related hain.
Yeh section "Capital Gains" ke computation se related hai aur ismein kuch important points diye gaye hain jo aapko samajhna zaroori hai:
1. **STT (Securities Transaction Tax) ka deduction nahi milega**: Jab aap "Capital Gains" calculate karte hain, to aapko **Securities Transaction Tax (STT)** ka jo amount aapne pay kiya hai, usse deduction ke roop mein consider nahi kiya jaayega. STT ek tax hai jo securities (shares, bonds, etc.) ke transactions par lagta hai, lekin yeh "Capital Gains" ke calculation mein include nahi hota.
2. **Cost Inflation Index (CII) ka use**: Agar aap long-term capital gains calculate kar rahe hain aur asset ka transfer 23rd July, 2024 se pehle ho raha hai, to aapko **Cost of Acquisition** aur **Cost of Improvement** ko **Cost Inflation Index (CII)** ke according adjust karna hoga.
- **CII** ka matlab hai ki government ek index set karti hai jo cost ko inflation ke hisaab se adjust karta hai. Har saal yeh index update hota hai, aur yeh Consumer Price Index (CPI) ke rise ke basis pe calculate hota hai.
- Jab CII ko cost of acquisition aur cost of improvement pe apply kiya jata hai, to yeh unko **indexed cost** bana deta hai. Iska matlab hai ki aapka asset jo aapne pehle kharida tha, uska cost inflation ke according badal jayega.
3. **Indexed cost ka calculation**:
- **Indexed Cost of Acquisition**: Agar aapne asset ko ek purani date pe kharida tha, to us asset ki cost ko CII ke according adjust kiya jayega. Yeh adjustment aise hoga ki CII jo aapke transfer ke year ka hai, wo CII us year ke saath compare hoga jab aapne asset ko pehli baar acquire kiya tha. Agar asset 1st April, 2001 ke baad acquire kiya hai, to us date ke CII ka bhi use hoga.
- **Indexed Cost of Improvement**: Agar aapne apne asset mein koi improvement ki hai, to us improvement ka cost bhi CII ke according adjust hoga. Yeh adjustment waise hi hoga jaise acquisition cost ka hota hai, matlab aap jo improvement karte waqt cost tha, usko inflation ke hisaab se badla jayega.
In short, agar aap apna asset transfer kar rahe hain to **CII** ka use karke aap apne acquisition aur improvement costs ko inflation ke hisaab se adjust kar sakte hain, jo aapke capital gains ko properly calculate karne mein madad karega.
Yeh section **Long-Term Capital Gains (LTCG)** ke tax computation se related hai jab **land ya building ya dono ka transfer 23rd July 2024 ke baad hota hai**. Isme yeh bataya gaya hai ki ek resident individual ya HUF ko LTCG par tax calculate karte waqt **indexation ka benefit** lene ka option milta hai, lekin kuch specific conditions ke saath.
### Key Points:
1. **Indexation ka benefit**:
- Agar aapke paas koi land ya building hai jise aapne **23rd July 2024 se pehle** acquire kiya tha, aur aap usse **23rd July 2024 ke baad transfer karte hain**, to aapko **indexation ka benefit** mil sakta hai.
- Indexation ka matlab hai ki aapke asset ke acquisition cost ko inflation ke hisaab se adjust kiya jayega, jisse aapka taxable capital gain kam ho jayega.
2. **Tax Rates**:
- LTCG ko calculate karne ke baad, tax ka rate **lower of the two rates** hoga:
- **12.5%** tax rate par, agar aapne indexation ka benefit nahi liya (i.e., agar aapne LTCG ko bina indexation ke calculate kiya).
- **20%** tax rate par, agar aapne indexation ka benefit liya (i.e., agar aapne LTCG ko indexation ke saath calculate kiya).
3. **Tax Computation ka scope**:
- Yeh benefit **sirf tax calculation ke liye diya jata hai**, jo aapko **section 112** ke under land ya building ya dono ke transfer par milega.
- **Income under Capital Gains** ke head me jo amount aapke gross total income mein add hoga, usme indexation ka benefit nahi milega. Matlab, jo aapka **capital gains income** hai, usme indexation ka koi effect nahi hoga, chahe aap resident individual ho ya HUF ho.
### Example:
Agar aapne **land ya building** ko **2023** me kharida tha aur ab aap usse **2025** me bech rahe hain, to aapko yeh decide karna hoga ki aap **indexation ka benefit** lena chahte hain ya nahi:
- Agar aap **indexation** ka use karte hain, to aapka capital gain kam hoga aur aapko **20% tax** lagega.
- Agar aap **indexation** ka use nahi karte, to aapka capital gain zyada hoga aur **12.5% tax** lagega.
Lekin, jab aap apna **capital gains income** calculate karenge jo aapke gross total income mein add hoga, uss calculation mein **indexation** ka benefit nahi liya jayega. Yeh sirf **tax computation** ke liye applicable hoga.
Yeh section **capital gains** ke calculation se related hai, khaas karke un cases mein jab **shares, debentures, ya warrants** transfer kiye ja rahe ho, jo **Employees' Stock Option Plan (ESOP)** ke through diye gaye ho, ya phir **non-residents** ke cases mein jab foreign exchange ka use karke capital assets acquire kiye gaye ho. Isme kuch special provisions diye gaye hain jo aapko samajhna zaroori hai:
### 1. **Shares, Debentures, or Warrants under ESOP - Transfer by Gift etc. (A.Y. 2024-25 tak)**:
- Agar koi **company apne employees ko ESOP ke through shares, debentures ya warrants allot kar rahi hai** (Central Government ke guidelines ke anusar), aur agar wo shares, debentures ya warrants kisi **gift, trust ya similar transfer ke through transfer hote hain** A.Y. 2024-25 tak, to us transfer ke case mein **market value** ko **full value of consideration** maana jayega.
- Yani, agar aapne jo shares ya debentures ESOP ke through liye the, unko **gift ya trust** ke zariye transfer kiya, to un shares ki **market value on the transfer date** ko us asset ka full value maana jayega.
### 2. **Special Provision for Non-Residents**:
Non-residents ke liye kuch special provisions hain, jo unke foreign exchange investment se related hain. Agar koi non-resident **Indian company ke shares ya debentures transfer karta hai**, to unka capital gains compute karne ka tareeka kuch is tarah hoga:
- **Cost of acquisition** aur **expenditure incurred** ko **same foreign currency** mein convert kiya jayega, jo currency unhone shares ko acquire karte waqt use ki thi.
- **Conversion** ka process **Telegraphic Transfer Buying Rate (TTBR)** aur **Telegraphic Transfer Selling Rate (TTSR)** ke average rate par hoga, jo respective dates pe applicable hoga.
- Transfer ke baad, jo capital gains calculate hote hain, unko dobara **Indian currency mein reconvert kiya jayega** by applying **TTBR** on the date of transfer.
**Yeh process** non-residents ko **foreign currency fluctuations** ke risk se bachata hai, aur unko unki currency ko exchange karte waqt exact value milti hai.
### 3. **Concessional Tax Rates for Non-Residents**:
- Agar **non-residents** ya **foreign companies** **unlisted securities** ya **shares** of companies in which public are not substantially interested ko transfer karte hain, to unko ek **concessional tax rate** milta hai:
- **10%** tax rate, agar transfer **23rd July 2024** se pehle hota hai.
- **12.5%** tax rate, agar transfer **23rd July 2024** ke baad hota hai.
- **Indexation benefit** aur **currency conversion** ka benefit in cases mein nahi milega.
### 4. **Exceptions** (Section 112A ke under):
Kuch specific assets ko **currency conversion benefit** nahi milega:
- **Equity shares** jo **STT (Securities Transaction Tax)** ke under acquire aur transfer kiye gaye ho.
- **Units of equity-oriented funds** ya **business trust units** jo **STT** ke under transfer kiye gaye ho.
### Summary:
- **ESOP ke through transfer** kiye gaye shares ko **market value** pe consider kiya jayega, agar gift ya trust ke zariye transfer kiya jaye (up to A.Y. 2024-25).
- **Non-residents** ko **currency conversion ka benefit** milega jab unhone **foreign exchange** se shares ya debentures acquire kiye ho, lekin **indexation** ka benefit nahi milega.
- Non-residents ko **concessional tax rate** milega for long-term capital gains on unlisted securities ya shares.
- **STT-paid assets** par currency conversion benefit applicable nahi hoga.