Lok Sabha Question No. 1286 (UNSTARRED), answered on 2020-09-19
Subject: LTCG on Sale of Residential Property
Ministry: FINANCE
Asked by: Manoj Kishorbhai Kotak

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE

## LOK SABHA UNSTARRED QUESTION NO. 1286

TO BE ANSWERED ON SATURDAY 19 TH  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;
- (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?

## 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.

(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      |
| DAMANAND 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       |
| TAMILNADU                    | 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      |
| DAMANAND 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       |
| TAMILNADU                    | 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     |
| 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      |
| DAMANAND 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       |
| TAMILNADU                    | 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     |
| 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     |
| DAMANAND 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      |
| TAMILNADU                    | 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  |

| 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     |
| DAMANAND 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      |
| TAMILNADU                    | 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 |