Long Term Capital Gain on Sale of Residential Property : Ministry of Finance

GOVERNMENT OF INDIA

MINISTRY OF FINANCE DEPARTMENT OF REVENUE

LOK SABHA

UNSTARRED QUESTION NO. 1286

TO BE ANSWERED ON SATURDAY 19TH SEPTEMBER, 2020 BHADRAPADA 28, 1942 (SAKA)

LTCG ON SALE OF RESIDENTIAL PROPERTY

1286. SHRI MANOJ KOTAK

Will the Minister of FINANCE be pleased to state:

(a) whether the Government is planning to exempt Long Term Capital Gain (LTCG) on sale of Residential property to be used gross proceedings for commercial activities or start-ups, to boost the post covid commercial activity in country;

(b) if so, the details thereof and if not, the reasons therefor;

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(d) the details of LTCG collected on residential property during the said period, State-wise?

ANSWER

THE MINISTER OF STATE IN MINISTRY OF FINANCE

(SHRI ANURAG SINGH THAKUR)

(a) & (b) Currently, there is no such proposal. However, the existing provision of section 54GB of the Income-tax Act, 1961, inter alia, provides for exemption to capital gains arising out of sale of residential property (a house or a plot of land) by an individual or Hindu Undivided Family if the net consideration is invested in the eligible start-up on or before 31st March 2021 subject to fulfillment of the specified condition.

(c) The details of tax on LTCG collected during the last five years is as under:

A.Y	LTCG (Rs. Crore)	Tax (Rs. Crore)
2015-16	638,097,271,482	120,933,982,652
2016-17	762,383,558,234	144,991,387,871
2017-18	1,077,532,165,880	185,453,104,064
2018-19	1,157,694,943,431	216,196,492,621
2019-20*	1,622,842,474,080	281,586,735,390

[*As per the returns submitted upto 31.08.2020].

Further, State-wise break-up of the said detail has been provided in Annexure where the State has been taken from communication address mentioned in Part-A General of e-Returns.

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(d) There is no separate column in the Income tax Return to capture data related to LTCG on sale of residential property.

AY	2015-16
Name of State	Income	Tax Thereon
ANADAMAN AND NICOBAR ISLANDS	35,688,472	6,931,181
ANDHRA PRADESH	15,115,182,472	2,864,199,102
ARUNACHAL PRADESH	4,918,511	798,670
ASSAM	693,675,841	130,481,191
BIHAR	2,632,316,664	509,381,251
CHANDIGARH	3,231,801,044	637,115,590
CHATTISGARH	4,350,622,182	831,846,341
DADRA AND NAGAR HAVELI	76,484,821	14,559,699
DAMAN AND DIU	42,865,776	8,377,794
DELHI	74,049,718,673	14,338,317,513
FOREIGN COUNTRY	31,322,137,410	4,180,206,483
GOA	2,000,207,475	383,634,905
GUJARAT	44,674,799,075	8,762,911,120
HARYANA	10,503,359,454	2,041,605,206
HIMACHAL PRADESH	689,513,740	133,352,563
JAMMU AND KASHMIR	889,374,396	173,114,532
JHARKHAND	1,404,760,982	267,468,355
KARNATAKA	69,116,331,936	13,229,458,839
KERALA	13,524,256,836	2,568,588,091
LAKSHWADEEP	5,126,694	975,339
MADHYA PRADESH	7,846,963,713	1,501,174,941
MAHARASHTRA	220,006,149,697	42,276,807,025
MANIPUR	48,899,276	8,961,192
MEGHALAYA	32,636,552	6,347,037
MIZORAM	93,040	18,608
NAGALAND	19,844,968	3,784,276
ODISHA	1,243,781,973	221,259,875
PONDICHERRY	728,838,017	140,917,810
PUNJAB	11,202,110,783	2,113,847,633
RAJASTHAN	10,767,726,964	2,012,194,201
SIKKIM	13,638,258	2,632,410
TAMIL NADU	48,321,310,757	9,381,505,001
TELENGANA	22,481,569,388	4,346,971,865
TRIPURA	53,224,563	7,708,932
UTTAR PRADESH	20,885,093,329	3,996,535,199
UTTARAKHAND	3,472,836,938	673,141,372
WEST BENGAL	16,609,410,812	3,156,851,510
Grand Total	638,097,271,482	120,933,982,652

AY	2016-17
Name of State	Income	Tax Thereon
ANADAMAN AND NICOBAR ISLANDS	88,043,434	17,364,950
ANDHRA PRADESH	16,535,161,518	3,159,703,035
ARUNACHAL PRADESH	9,279,102	1,784,445
ASSAM	1,557,938,484	300,886,508
BIHAR	2,164,116,882	409,561,212
CHANDIGARH	8,148,119,743	1,614,430,899
CHATTISGARH	5,545,629,251	1,065,953,723
DADRA AND NAGAR HAVELI	68,869,118	13,711,759
DAMAN AND DIU	41,270,639	7,870,930
DELHI	65,860,572,441	12,812,524,355
FOREIGN COUNTRY	39,295,029,927	4,768,226,355
GOA	3,446,073,761	673,776,359
GUJARAT	46,110,195,035	9,051,020,267
HARYANA	11,423,768,240	2,203,532,837
HIMACHAL PRADESH	6,745,538,775	1,345,250,594
JAMMU AND KASHMIR	752,598,144	139,400,757
JHARKHAND	1,237,014,994	228,678,793
KARNATAKA	81,502,178,616	15,862,616,571
KERALA	10,887,290,953	2,021,088,103
LAKSHWADEEP	2,203,678	390,735
MADHYA PRADESH	9,675,935,513	1,857,816,156
MAHARASHTRA	255,161,062,464	49,343,605,990
MANIPUR	196,780,079	38,385,770
MEGHALAYA	50,191,589	9,777,732
MIZORAM	–	–
NAGALAND	14,431,561	2,798,423
ODISHA	2,602,066,353	477,339,008
PONDICHERRY	661,297,109	128,354,016
PUNJAB	8,643,341,172	1,646,822,108
RAJASTHAN	12,452,781,672	2,341,235,374
SIKKIM	13,896,271	2,551,002
TAMIL NADU	60,511,901,877	11,802,491,843
TELENGANA	69,766,777,221	13,826,716,833
TRIPURA	63,644,863	8,440,443
UTTAR PRADESH	18,753,885,336	3,571,835,881
UTTARAKHAND	3,315,855,728	634,741,469
WEST BENGAL	19,078,816,691	3,600,702,636
Grand Total	762,383,558,234	144,991,387,871

AY	2017-18
Name of State	Income	Tax Thereon
ANADAMAN AND NICOBAR ISLANDS	62,724,179	12,272,244
ANDHRA PRADESH	15,871,181,155	3,030,670,436
ARUNACHAL PRADESH	19,834,618	3,804,139
ASSAM	1,876,404,291	362,952,661
BIHAR	2,619,671,631	496,184,350
CHANDIGARH	3,532,332,979	689,655,980
CHATTISGARH	5,074,417,110	964,492,242
DADRA AND NAGAR HAVELI	153,418,981	30,262,377
DAMAN AND DIU	84,890,492	16,657,538
DELHI	85,794,279,002	16,671,751,237
FOREIGN COUNTRY	214,136,269,919	22,120,229,904
GOA	10,783,050,615	2,136,301,341
GUJARAT	54,672,138,438	10,711,777,460
HARYANA	32,953,723,163	5,250,225,439
HIMACHAL PRADESH	414,254,476	79,012,553
JAMMU AND KASHMIR	920,005,026	178,687,653
JHARKHAND	2,246,882,270	430,989,621
KARNATAKA	120,739,098,215	22,251,319,131
KERALA	14,910,279,854	2,833,274,158
LAKSHWADEEP	3,169,250	586,791
MADHYA PRADESH	10,150,281,228	1,954,395,763
MAHARASHTRA	317,681,831,095	60,172,270,286
MANIPUR	30,715,198	5,782,422
MEGHALAYA	84,506,339	16,630,566
MIZORAM	–	–
NAGALAND	19,045,664	3,807,171
ODISHA	2,899,044,539	522,938,975
PONDICHERRY	540,674,706	103,754,584
PUNJAB	8,542,960,905	1,632,777,071
RAJASTHAN	20,020,490,353	3,844,532,975
SIKKIM	31,658,915	6,122,812
TAMIL NADU	54,375,699,914	10,617,137,605
TELENGANA	34,228,640,794	6,674,091,445
TRIPURA	68,535,395	11,379,545
UTTAR PRADESH	23,401,306,379	4,493,825,602
UTTARAKHAND	4,072,447,854	784,215,927
WEST BENGAL	34,516,300,938	6,338,334,060
Grand Total	1,077,532,165,880	185,453,104,064

AY	2018-19
Name of State	Income	Tax Thereon
ANADAMAN AND NICOBAR ISLANDS	60,580,454	11,542,669
ANDHRA PRADESH	31,958,688,950	6,174,072,574
ARUNACHAL PRADESH	29,406,339	5,587,915
ASSAM	2,056,714,582	394,789,522
BIHAR	3,614,665,156	676,928,385
CHANDIGARH	5,398,714,363	1,056,615,288
CHATTISGARH	5,243,841,141	986,788,152
DADRA AND NAGAR HAVELI	303,405,526	59,507,171
DAMAN AND DIU	151,708,261	29,530,673
DELHI	119,099,200,487	23,062,274,616
FOREIGN COUNTRY	84,332,730,568	10,517,111,557
GOA	4,734,598,874	904,231,647
GUJARAT	104,692,488,469	20,298,002,603
HARYANA	91,865,853,761	18,186,426,090
HIMACHAL PRADESH	827,062,961	160,242,059
JAMMU AND KASHMIR	1,427,999,955	260,264,205
JHARKHAND	5,091,900,185	984,544,188
KARNATAKA	112,658,827,399	21,851,890,007
KERALA	12,412,729,126	2,279,236,968
LAKSHWADEEP	1,176,687	188,463
MADHYA PRADESH	13,727,534,018	2,575,428,980
MAHARASHTRA	294,146,776,740	55,188,860,326
MANIPUR	62,952,404	10,333,894
MEGHALAYA	97,457,257	18,688,868
MIZORAM	1,552,597	184,224
NAGALAND	37,339,546	7,105,364
ODISHA	3,555,745,069	650,534,271
PONDICHERRY	703,910,362	134,791,181
PUNJAB	8,764,303,898	1,638,497,649
RAJASTHAN	47,515,611,173	8,907,417,129
SIKKIM	51,605,288	9,987,049
TAMIL NADU	73,608,587,811	14,369,927,758
TELENGANA	58,818,723,530	11,597,158,857
TRIPURA	98,287,690	18,525,228
UTTAR PRADESH	29,095,501,629	5,281,810,265
UTTARAKHAND	5,051,591,001	927,474,656
WEST BENGAL	36,395,170,174	6,959,992,170
Grand Total	1,157,694,943,431	216,196,492,621

AY	2019-20
Name of State	Income	Tax Thereon
ANADAMAN AND NICOBAR ISLANDS	1,963,822,862	392,000,603
ANDHRA PRADESH	33,823,249,985	6,424,562,495
ARUNACHAL PRADESH	57,239,716	11,048,852
ASSAM	2,533,835,079	465,470,969
BIHAR	5,422,673,777	1,013,351,095
CHANDIGARH	5,278,170,963	1,013,110,937
CHATTISGARH	6,126,733,180	1,103,682,177
DADRA AND NAGAR HAVELI	581,612,302	113,019,746
DAMAN AND DIU	151,070,931	28,165,295
DELHI	190,150,672,402	35,889,933,272
FOREIGN COUNTRY	255,993,419,979	27,288,590,377
GOA	7,276,987,438	1,340,046,952
GUJARAT	103,410,691,166	19,291,912,579
HARYANA	35,051,825,405	6,568,592,051
HIMACHAL PRADESH	900,663,237	165,324,633
JAMMU AND KASHMIR	1,562,308,896	290,691,193
JHARKHAND	3,134,600,767	568,669,183
KARNATAKA	271,411,091,495	51,956,409,468
KERALA	13,155,839,353	2,394,877,955
LADAKH	–	–
LAKSHWADEEP	4,119,990	727,050
MADHYA PRADESH	16,071,875,594	2,938,142,571
MAHARASHTRA	342,824,293,619	60,701,445,585
MANIPUR	74,043,895	12,894,220
MEGHALAYA	130,493,076	22,413,941
MIZORAM	11,923,249	2,324,650
NAGALAND	43,862,881	7,278,265
ODISHA	3,941,731,843	698,863,880
PONDICHERRY	684,878,762	123,425,727
PUNJAB	12,328,352,107	2,227,651,233
RAJASTHAN	35,945,092,006	6,613,171,101
SIKKIM	58,203,683	10,374,240
TAMIL NADU	96,365,901,728	18,529,675,311
TELENGANA	81,797,160,351	15,958,732,668
TRIPURA	138,173,283	25,971,494
UTTAR PRADESH	40,339,766,655	7,366,611,730
UTTARAKHAND	5,715,404,753	1,052,408,167
WEST BENGAL	48,380,687,672	8,975,163,725
Grand Total	1,622,842,474,080	281,586,735,390

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