u/tsomoriri

I'm asking on behalf of my friend.

Uncle sold an urban agri land in april 2023.He unfortunately died in june 2024.His son opened a capital gains account in his own name to claim 54b ltcg exemption in July 24.

The fund remained unutilised in the cgas account and my friend paid the required tax@20% along with cess and surcharge in april 2025.

Now when he is filling itr of his father as legal representative,The tax computation is 12.5% in deemed capital gains section instead of 20% in itr 2 utility.

1. Can anyone please clarify why the tax computation is 12.5% for an asset transferred before 23 July 24 instead of 20%? Is it utility/online portal error?

2. Was he right to open cgas in his own name to claim exemption?

This query is on behalf of my friend.

My friend's father sold an urban agri land in april 2023.

He unfortunately expired in march 2024.His son opened a CGAS account in his own name for 54b ltcg exemption.

My friend was unable to purchase agri land so He paid the advanced tax @20% along with cess and surcharge in april 2025 on unutilised gains.

Now he is filling itr 2 for ay 26-27 for his deceased father as legal heir but the tax rate applied by utility is 12.5% for deemed capital gains instead of 20%.

Can anyone clarify why utility is applying 12.5% instead of 20% on deemed capital gains?

Also was he right to open cgas account in his own name to claim benefit under 54b?