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