Pankaj,
For the purpose of tax calculation on Capital Gains, under what curcumstances calculate capital gain tax without indexation can be considered. I was referring Schedule CG sheet which gives me two options.
1. Other assets for which option under proviso to section 112(1) not exercised
2. Other assets for which option under proviso to section 112(1) exercised
I came to know if second option is choosen (Cost of acquisition without indexation) then only 10% of tax is applicable on the gains instead of paying 20% tax if Cost of acquisition with indexation is considered. Is it true. Since there is substantial difference in figures, want to check with you before proceeeding to file my returns. Please clarify.
Regards
