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

September 26, 2020
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

Long Term Capital Gain

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;
(c) the details of LTCG collected during the last five years, State-wise; and
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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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