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  5. Nagpur
Tax

Capital Gains Tax Calculator — Nagpur FY 2025-26

Capital gains tax on Nagpur (Maharashtra) investments — updated with Finance Act 2024 rates. Property LTCG (held >24 months): 12.5% without indexation. A 900 sqft flat in Nagpurbought at Rs 36.0L and sold 3 years later at Rs 45.3L generates LTCG of Rs 6.8L — taxed at Rs 0.89L (12.5% + 4% cess). Equity LTCG: 12.5% above Rs 1.25L annual exemption. STCG: 20%.

Verified Formula|Source: Income Tax Department, Government of India|Last verified: April 2026Methodology

Transaction Details

Listed shares, equity mutual funds, equity ETFs

1 month1y 6m10 years

LTCG threshold for Equity / Equity MF: 12 months. Your holding qualifies as Long-Term.

Related Calculators

Income Tax CalculatorOld vs New Regime
Long-Term Capital Gain (LTCG)

Held for 18 months. Equity / Equity MF requires 12 months for LTCG classification. Tax rate: 12.5%

Capital Gain

₹5,00,000

Tax Rate

12.5%

Tax Amount

₹48,750

Net Gain

₹4,51,250

Tax Computation

Sale Price₹15,00,000
Less: Purchase Price (Cost of Acquisition)- ₹10,00,000
Capital Gain₹5,00,000
Less: Exemption (Rs 1.25L LTCG exemption)- ₹1,25,000
Taxable Capital Gain₹3,75,000
Tax @ 12.5%₹46,875
Add: Cess (4%)₹1,875
Total Tax on Capital Gains₹48,750

Rs 1.25 Lakh LTCG Exemption

Under Section 112A, long-term capital gains on listed equity shares and equity mutual funds up to Rs 1,25,000 per financial year are exempt from tax. Gains above this threshold are taxed at 12.5%.

Capital Gains Tax Rates — Quick Reference (FY 2025-26)

AssetLTCG ThresholdSTCG RateLTCG Rate
Listed Equity / Equity MF12 months20%12.5% (above Rs 1.25L)
Debt Mutual Funds24 monthsSlab rateSlab rate
Property / Real Estate24 monthsSlab rate12.5%
Gold / Gold ETF24 monthsSlab rate12.5%

Capital Gains Tax on Nagpur Investments — Finance Act 2024 Guide

The Finance Act 2024 (Union Budget 2024, effective 23 July 2024) significantly overhauled capital gains taxation in India. The changes — removing indexation for property LTCG, revising equity STCG from 15% to 20%, and standardising LTCG at 12.5% across most asset classes — have direct implications for Nagpur (Maharashtra) investors in real estate, equity, and gold. Understanding the new regime is essential before selling any capital asset in Nagpur. Nagpur pays Maharashtra's full Rs 2,500/year professional tax despite being India's geographical center with significantly lower salaries than Mumbai or Pune — making it one of the highest PT burden cities relative to income. MIHAN SEZ (Multi-modal International Cargo Hub and Airport at Nagpur) is expected to create 30,000+ direct jobs by 2026, positioning Nagpur as one of India's fastest-growing Tier-2 real estate markets.

Property Capital Gains in Nagpur: Finance Act 2024 Changes

Nagpur's real estate market: Wardha Road (MIHAN corridor) rose 20–25% in FY2025 as SEZ developments accelerated. Civil Lines and Dharampeth premium held at Rs 5,000–7,000/sqft. Hingna MIDC industrial area drove affordable residential demand at Rs 3,000–4,500/sqft. Metro Phase 1 completion boosted Sitabuldi and Cotton Market area values. Properties in prime localities — Dharampeth, Civil Lines, Manish Nagar — average Rs 4,000/sqft.

Example: Selling a 900 sqft flat in Nagpur

  • Purchase price: Rs 36.0L (Rs 4,000/sqft × 900 sqft)
  • Stamp duty paid at purchase (6%): Rs 2,16,000
  • Registration charge (1%): Rs 36,000
  • Total Cost of Acquisition: Rs 38.5L (purchase + stamp duty + registration)
  • Sale price after 3 years (at ~8% annual appreciation): Rs 45.3L
  • LTCG (Long Term, held >24 months): Rs 6.8L gain — taxed at 12.5% without indexation (Finance Act 2024). Tax + cess: Rs 0.89L
  • If sold within 24 months (STCG): Entire gain taxed at your income slab rate. At 30% slab: tax = Rs 2.13L — significantly higher than LTCG.

Key Finance Act 2024 change: Indexation benefit (which allowed adjusting purchase price for inflation using the Cost Inflation Index) has been removed for property sold on or after 23 July 2024. This increases LTCG for long-held properties but the 12.5% flat rate (reduced from earlier 20% with indexation in some cases) may partially offset this. Calculate both scenarios if you acquired property before 2001 or hold it for 10+ years — grandfathering provisions may apply.

TDS on Nagpur Property Sale: Section 194-IA

When you sell Nagpur property above Rs 50 lakh, the buyer must deduct 1% TDS (Section 194-IA). At a sale price of Rs 45.3L:

  • Property value Rs 45.3L is below Rs 50L — Section 194-IA TDS does not apply for the buyer.
  • TDS is offset against your capital gains tax liability when filing ITR. If your LTCG tax (Rs 0.89L) is more than TDS, you pay the balance tax while filing ITR.

Section 54 and 54EC: Exemptions for Nagpur Property Sellers

Two critical exemptions can eliminate or reduce your Nagpur property capital gains tax:

  • Section 54: If you sell a residential property in Nagpur and reinvest the LTCG in another residential property within 2 years of sale (or construct within 3 years), the entire LTCG is exempt. Given Nagpur's active real estate market — Wardha Road (MIHAN corridor) rose 20–25% in FY2025 as SEZ developments accelerated. Civil Lines and Dharampeth premium held at Rs 5,000–7,000/sqft. Hingna MIDC industrial area drove affordable residential demand at Rs 3,000–4,500/sqft. Metro Phase 1 completion boosted Sitabuldi and Cotton Market area values. — reinvestment in another Nagpur property is often feasible. Deposit exemption amount in Capital Gains Account Scheme (CGAS) before ITR filing if you cannot complete purchase in time.
  • Section 54EC: Invest LTCG in NHAI, REC, or PFC bonds within 6 months of sale (up to Rs 50 lakh per financial year) for full exemption. These are long-term bonds (5-year lock-in), currently yielding ~5.75% p.a. — lower than bank FDs but the tax saving on large gains is significant.
  • Section 54F: If you sell any asset other than a residential house (e.g., plot, commercial property) and invest the entire net sale consideration (not just gains) in a residential property, LTCG is exempt proportionally.

Equity Capital Gains for Nagpur's Investors

Nagpur's Governmentprofessionals are among India's most active equity investors. Finance Act 2024 updated equity capital gains:

  • Equity LTCG (listed shares/equity MFs, held >12 months): 12.5% on gains above Rs 1,25,000 per financial year (Section 112A). On equity gains of Rs 1,75,000: exempt Rs 1,25,000, taxable Rs 50,000, tax Rs 6,500 (including 4% cess).
  • Equity STCG (held <12 months): 20% (Section 111A) — increased from 15% by Finance Act 2024. On Rs 1,00,000 STCG: tax = Rs 20,800.
  • Tax Harvesting: Sell equity investments annually to realise up to Rs 1.25L in long-term gains tax-free (within the annual exemption), then immediately repurchase the same units at the higher NAV. This resets your cost basis and avoids accumulated LTCG building up. A Nagpur professional with a Rs 10L+ equity portfolio should do this review every March.
  • Loss harvesting: Short-term capital losses can be set off against both STCG and LTCG. Long-term capital losses can only be set off against LTCG. Carry forward unused losses for up to 8 years.

Gold Capital Gains in Nagpur

Physical gold and gold ETFs have different treatment post Finance Act 2024:

  • Physical gold (jewellery, coins, bars): LTCG if held >24 months — 12.5% without indexation (Finance Act 2024). On Rs 5,00,000of gold with 30% appreciation over 3 years: gain Rs 1,50,000, LTCG tax Rs 19,500 (12.5% + 4% cess).
  • Sovereign Gold Bonds (SGBs): If held to maturity (8 years), redemption proceeds are fully exempt from capital gains tax — a significant advantage over physical gold. If SGBs are sold on the exchange before maturity: LTCG at 12.5% if held >12 months; STCG at 20% if less.
  • Gold ETFs and Gold Mutual Funds: Treated as debt MF for taxation (see below) — slab rate tax regardless of holding period (Finance Act 2023 change).

Debt Mutual Fund Capital Gains (Finance Act 2023 Change)

A significant rule change effective 1 April 2023: gains from debt mutual funds (where equity <35% of corpus) are now taxed at your income slab rate regardless of holding period — the previous 20% with indexation (for >3 years) is no longer available for new purchases after 31 March 2023. On Rs 50,000 debt MF gain: at 30% slab = Rs 15,600 tax; at 20% slab = Rs 10,400 tax. This makes debt MFs less tax-efficient than bank FDs for high-bracket Nagpur professionals — though FDs also face TDS and the same slab-rate taxation.

Disclaimer

Capital gains computations are based on Finance Act 2024 provisions effective 23 July 2024. Property cost of acquisition includes stamp duty and registration charges paid at purchase. LTCG on property does not include improvement costs and brokerage (these can also be added to cost). Grandfathering provisions apply for equity investments held before 31 January 2018. Section 54/54EC exemptions have specific compliance requirements and timelines. Surcharge applies for capital gains above Rs 50L in some categories. Consult a Chartered Accountant in Nagpur before any significant capital gains transaction.

Frequently Asked Questions — Capital Gains Tax in Nagpur

How much capital gains tax do I pay on selling a Nagpur property at Rs 4,000/sqft?

For a 900 sqft flat in Nagpur purchased at Rs 36.0L (including stamp duty Rs 2,16,000 + registration Rs 36,000), cost of acquisition is Rs 38.5L. If sold after 3 years at ~8% annual appreciation (Rs 45.3L), LTCG = Rs 6.8L. At 12.5% + 4% cess: LTCG tax = Rs 0.89L. If you reinvest the gain in another property under Section 54, or in 54EC bonds (up to Rs 50L), the entire gain can be tax-exempt. STCG (if sold within 24 months) at 30% slab would be Rs 2.13L — significantly higher. Plan your holding period accordingly.

Does stamp duty paid in Nagpur at 6% reduce my capital gains tax?

Yes — stamp duty and registration charges paid at the time of property purchase are part of your Cost of Acquisition and directly reduce your capital gain. For a Nagpurproperty purchased at Rs 36.0L: stamp duty at 6% = Rs 2,16,000 and registration at 1% = Rs 36,000 are added to the purchase price, giving a total cost base of Rs 38.5L. This reduces your taxable LTCG by Rs 2,52,000, saving approximately Rs 32,760 in capital gains tax (12.5% + 4% cess). Similarly, renovation costs with valid receipts and brokerage paid at sale can be deducted from sale consideration.

What is the Rs 1.25 lakh equity LTCG exemption and how does it benefit Nagpur investors?

Section 112A provides a Rs 1,25,000 annual exemption on long-term capital gains from listed equity shares and equity mutual funds. This means the first Rs 1.25L of equity LTCG in any financial year is tax-free. At 12.5% LTCG rate, this exemption saves up to Rs 16,250/year (plus cess). For Nagpur's active SIP investors — particularly in Bengaluru and Hyderabad's tech sector where large SIP portfolios are common — the Tax Harvesting strategy (booking up to Rs 1.25L gain every March and reinvesting) resets cost basis annually, permanently eliminating the LTCG on those units. Over a 10-year period, consistent tax harvesting can save Rs 1.5-2L in total LTCG tax on a Rs 10L+ equity portfolio.

Can I avoid capital gains tax if I reinvest Nagpur property sale proceeds?

Yes, using Section 54 (for residential property) or Section 54EC (for NHAI/REC bonds). Under Section 54, if you sell a residential property in Nagpur and buy another residential property within 2 years (or construct within 3 years), the LTCG of Rs 6.8L is fully exempt. The new property must be in India. You can also deposit the gain amount in a Capital Gains Account Scheme (CGAS) at a nationalised bank before filing your ITR to preserve the exemption while you search for the right property. Under Section 54EC, invest up to Rs 50L in NHAI or REC 54EC bonds within 6 months of sale — capital gains up to Rs 50L are exempt, with the bonds locked in for 5 years at ~5.75% annual interest.

Nagpur's capital gains landscape is defined by three distinctive drivers: Vidarbha agricultural land transactions where compulsory acquisition for MIDC (Maharashtra Industrial Development Corporation) industrial corridors triggers Section 10(37) exemptions; BHEL Butibori long-tenure employees with trust EPF corpus exemption and LIC maturity coinciding with property LTCG events in the same financial year; and the Nagpur High Court advocate community's dual income where business income from legal practice meets capital gains from Dharampeth investment property sales. Finance Act 2024's property LTCG change (12.5% without indexation with grandfathering for pre-July 23, 2024 acquisitions) benefits Nagpur's emerging Wardha Road and MIHAN corridor. A Wardha Road 3BHK purchased in 2010 for Rs 36L now selling for Rs 1.15Cr: New method Rs 79L × 12.5% = Rs 9.875L versus Old method: indexed Rs 36L × 363/167 = Rs 78.3L; LTCG Rs 36.7L × 20% = Rs 7.34L. Old method wins by Rs 2.535L for 2010 Wardha Road buyers. Dharampeth 2008 Rs 42L → Rs 1.6Cr: New: Rs 1.18Cr × 12.5% = Rs 14.75L. Old: indexed Rs 42L × 363/137 = Rs 111.3L; LTCG Rs 1.487Cr × 20% = Rs 29.74L. New wins dramatically by Rs 15L for premium 2008 Dharampeth properties. Equity LTCG above Rs 1.25L is taxed at 10% (raised from Rs 1L in Budget 2024). STCG on listed equity is 20%.

Key Insight — Nagpur

Nagpur's defining capital gains insight is the BHEL Butibori long-tenure employee multi-exempt event coordination — where a senior BHEL engineer approaching superannuation in FY2025-26 simultaneously receives: EPF corpus (25-year tenure, Rs 60-80L → Section 10(12) EXEMPT), LIC endowment maturity (20-year policy from 2005 → Rs 25L policy → Rs 35L maturity → Section 10(10D) EXEMPT for pre-April 2012 policy), and potentially sells a property generating LTCG. The critical planning insight: BOTH EPF maturity and LIC maturity are completely exempt from capital gains or income tax — they don't appear anywhere in the ITR income computation. They don't affect regime choice, they don't consume the Section 54 LTCG exemption, and they don't push income into higher brackets. Only the property LTCG (12.5% flat rate under new method) is taxable. For a BHEL Butibori Grade G engineer retiring in 2025 with: (a) EPF corpus Rs 75L → EXEMPT, (b) LIC maturity Rs 32L → EXEMPT, (c) Wardha Road flat sale Rs 80L LTCG → TAXABLE at 12.5% = Rs 10L, (d) FD interest Rs 2L → taxable at slab rate. The combined picture: total receipts Rs 109L + Rs 2L interest — only Rs 80L property LTCG and Rs 2L FD are taxable. The exempt EPF and LIC maturities do not 'crowd out' or interact with the Section 54 LTCG exemption. The BHEL engineer can reinvest the Rs 80L property LTCG in a new residential property (Section 54) and simultaneously receive Rs 107L completely exempt. This multi-exempt coordination is the defining financial planning event for BHEL Butibori's superannuation cohort.

Nagpur's Financial Context and Capital Gains Calculator

Maharashtra PT: Rs 2,500/year. Nagpur NON-METRO HRA: 40% of basic. Stamp duty Maharashtra: 5% stamp + 1% metro cess + registration ≈ 7% total. Property LTCG: 12.5% without indexation (Finance Act 2024); grandfathering for pre-July 23, 2024 acquisitions. CII 2024-25: 363. MIDC compulsory acquisition: Section 10(37) — agricultural land compulsory acquisition → exempt for individual/HUF. Vidarbha agricultural land: cotton farming in Amravati/Wardha districts adjacent to Nagpur. Section 10(12): EPF maturity after 5+ year continuous employment → exempt. LIC maturity Section 10(10D): pre-April 2023 policy → exempt regardless of premium. Post-April 2023 policy with aggregate annual premium >Rs 5L → maturity taxable at slab. Ramdaspeth 2009 Rs 32L → Rs 1.2Cr: New: Rs 88L × 12.5% = Rs 11L. Old: indexed Rs 32L × 363/148 = Rs 78.5L; LTCG Rs 41.5L × 20% = Rs 8.3L. Old wins by Rs 2.7L. MIHAN SEZ corridor 2011 Rs 26L → Rs 88L: New: Rs 62L × 12.5% = Rs 7.75L. Old: indexed Rs 26L × 363/184 = Rs 51.3L; LTCG Rs 36.7L × 20% = Rs 7.34L. Old wins by Rs 410K. HC advocate: Section 44ADA available if gross ≤ Rs 50L. Commercial property sale: Section 54F applies if seller owns ≤ 1 house and reinvests entire consideration in residential property. SGB maturity: exempt. TDS: 1% on Rs 50L+ residential property.

Vidarbha Agricultural Land MIDC Acquisition — Section 10(37) and Alternative Reinvestment

Nagpur's industrial expansion through MIDC into Wardha Road, Butibori (beyond BHEL), and Hingna industrial estates creates compulsory acquisition events for Vidarbha agricultural families. The Section 10(37) exemption mechanics: Capital gains from compulsory acquisition of agricultural land by the government or a government authority (MIDC qualifies) → fully exempt for individual or HUF. Condition: the land must be agricultural land (not urban capital asset). For Amravati district cotton farms (Wardha, Yavatmal, Akola adjacent to Nagpur's satellite zones): typically rural agricultural land → NOT capital asset in first place → even without Section 10(37), no capital gains. But for agricultural land within 8km of Nagpur or Amravati municipal boundaries: IS a capital asset → Section 10(37) applies if compulsorily acquired. Interest received on delayed compulsory acquisition payment: TAXABLE as other sources income (Head 5) — only principal compensation is exempt under Section 10(37). A Vidarbha farmer family receiving Rs 1.2Cr MIDC compensation for 5 acres of Wardha Road agricultural land: if Section 10(37) applies → Rs 1.2Cr fully exempt → zero capital gains tax. But Rs 18L interest on delayed compensation (AO may assess separately): taxable at slab rate. Post-acquisition planning: invest compensation in FD, SGB, or equity — no restriction on use of Section 10(37) exempt proceeds (unlike Section 54B which requires reinvestment in agricultural land). If voluntary sale to private developer (not compulsory acquisition): Section 10(37) does NOT apply → standard LTCG computation. Section 54B: reinvest LTCG from voluntary agricultural land sale in new agricultural land within 2 years → LTCG exempt.

Nagpur HC Advocates — Commercial vs Residential Property Capital Gains

Nagpur High Court advocates (Bombay HC Bench at Nagpur) often hold investment properties — both residential (Dharampeth flats) and commercial (Sadar area office chambers or retail ground-floor units). The capital gains treatment differs significantly between residential and commercial asset classes. Residential property sale: Section 54 available (reinvest in new residential property). Commercial property sale: Section 54 NOT available (Section 54 is specifically for residential house property sale and reinvestment in residential house). Section 54F available for commercial property sale if advocate owns ≤ 1 residential house. Section 54EC (NHAI bonds) available for both residential and commercial property LTCG. A Nagpur HC advocate selling a Sadar commercial chamber (purchased 2008 for Rs 28L including 7% Maharashtra stamp, now selling for Rs 1.4Cr): Section 54F: advocate owns one house in Dharampeth → eligible. Reinvest entire Rs 1.4Cr consideration in new residential flat → full LTCG exempt. But advocate would then own the new flat AND the existing Dharampeth house = 2 houses after reinvestment. Section 54F condition: at time of TRANSFER of commercial chamber, must own ≤ 1 residential house. The new house being purchased IS the second one → since you're buying it as the reinvestment, that's fine. But if advocate already owns 2 houses at transfer time: Section 54F completely unavailable. Then only Section 54EC (Rs 50L bond cap) partially shelters. Combined use: sell commercial property + apply Section 54EC (Rs 50L bonds) → saves Rs 50L × 12.5% (new method) = Rs 6.25L tax. Remaining LTCG taxable. LTCG analysis: New method: Rs 1.4Cr - Rs 28L = Rs 1.12Cr × 12.5% = Rs 14L. Old: indexed Rs 28L × 363/137 = Rs 74.2L; LTCG Rs 65.8L × 20% = Rs 13.16L. Old wins marginally.

More Questions — Capital Gains Calculator in Nagpur

I'm a BHEL Butibori employee (Grade G, 25 years service) retiring this year. Receiving Rs 72L EPF, Rs 28L LIC maturity (2004 policy), and selling Ramdaspeth flat for Rs 1.1Cr (purchased 2009 for Rs 30L). What's my total tax?

BHEL superannuation multi-event tax analysis: Event 1 — EPF corpus Rs 72L: Section 10(12) — EPF withdrawal after 5+ years continuous employment → FULLY EXEMPT. Zero income tax. Doesn't appear in ITR income. Event 2 — LIC maturity Rs 28L (2004 policy, pre-April 2012): Section 10(10D) — LIC policies purchased before April 2012 have UNCONDITIONAL exemption on maturity regardless of premium amount or sum assured ratio. Rs 28L → FULLY EXEMPT. Zero income tax. Event 3 — Ramdaspeth flat LTCG: Acquisition: 2009 at Rs 30L. Add stamp+registration: Rs 30L × 7% = Rs 2.1L → total acquisition cost Rs 32.1L. CII 2009-10: 148. New method: Rs 1.1Cr - Rs 32.1L = Rs 77.9L × 12.5% = Rs 9.7375L + cess = Rs 10.13L. Old method: indexed Rs 32.1L × 363/148 = Rs 78.77L; LTCG Rs 21.23L × 20% = Rs 4.246L + cess = Rs 4.416L. Old method wins by Rs 5.71L — use old 20%+indexation. Property LTCG tax: Rs 4.416L. Event 4 — FD interest (if any from retirement corpus deployment): At 30% slab if income >Rs 24L new regime in retirement. But in retirement year, total income = LTCG Rs 21.23L (old method) + FD interest (say Rs 1L) = Rs 22.23L taxable. LTCG at flat 20% = Rs 4.246L. FD interest at new regime slab: Rs 1L at 15-20% slab range = Rs 15-20K. Total tax: approximately Rs 4.416L + Rs 0.18L = Rs 4.6L. Section 54: reinvest Rs 21.23L LTCG in new residential property → zero property tax. Or Section 54EC: Rs 21.23L in NHAI bonds → zero tax. Total tax burden in retirement year without Section 54: approximately Rs 4.6L. With Section 54 reinvestment: essentially zero on property portion.

I'm a Nagpur HC advocate (self-employed, gross receipts Rs 42L, actual net Rs 20L) selling my Dharampeth 2BHK (bought 2012 Rs 38L, selling 2025 Rs 1.3Cr). Which LTCG method? Can I combine Section 54 and 54EC?

HC advocate dual-income capital gains analysis: 44ADA check: Gross Rs 42L ≤ Rs 50L → 44ADA available. 44ADA presumptive: 50% × Rs 42L = Rs 21L > actual net Rs 20L. Use actual books (Rs 20L net) since slightly lower than 44ADA. Wait — should use whichever gives LOWER tax. Actual Rs 20L < presumptive Rs 21L → actual books give lower income → use actual books (ITR-3). Property LTCG: Acquisition: 2012 at Rs 38L. Add stamp+registration: Rs 38L × 7% = Rs 2.66L → total Rs 40.66L. CII 2012-13: 200. New method: LTCG = Rs 1.3Cr - Rs 40.66L = Rs 89.34L × 12.5% = Rs 11.1675L. Old method: indexed Rs 40.66L × 363/200 = Rs 73.8L; LTCG Rs 56.2L × 20% = Rs 11.24L. New method wins marginally by Rs 72.5K. Use 12.5%. LTCG: Rs 89.34L. Section 54 + Section 54EC combination: Section 54: purchase one new residential flat (you own this Dharampeth flat being sold, but check if you own any other house — assuming this is your only house). Buy new residential property for Rs 89.34L → full LTCG exempt. Section 54EC additionally: You can use Section 54 for the entire LTCG AND also invest Rs 50L in bonds (in case new flat costs only Rs 39.34L for example). If new flat Rs 50L: Rs 50L exempt via Section 54 → remaining Rs 39.34L taxable. Section 54EC Rs 39.34L in bonds (within Rs 50L cap) → fully covers remaining Rs 39.34L → zero total tax. Combination works: Rs 50L flat (Section 54) + Rs 39.34L bonds (Section 54EC) = Rs 89.34L → complete shelter. Note: must NOT use 44ADA for the professional income in a year where also claiming capital gains exemptions — you CAN file ITR-3 with actual books + capital gains + capital gains exemptions simultaneously.

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