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| Posted by: manish |
January 04 , 2012, 11:15 IST |
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| i have a flat which is purchased in dec.2009. i had sale this flat in dec 2011.please guid me what can i do to save capital gain tax. |
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| Posted by: sudhir |
December 16 , 2011, 22:43 IST |
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| I HAVE PURCHACES A PLOT IN MAY 2011 NOW IN DEC-2011 I AM SELLING THE SAME PLOT WITHOUT ANY IMPROVEMENT |
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| Posted by: S.SRINIVASAN |
November 28 , 2011, 15:58 IST |
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| My wife sold her property and we watned to construct a first floor in my site (site in the name of her husband). For consutrction of ground floor I have taken a loan and she co-borrower of the same.Whether she can get tax exemption or not. Request, you kindly reply for this. |
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| Posted by: pankaj |
October 26 , 2011, 11:09 IST |
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| i want to sale a industrial unit does it come under LTCG my purchase is in 2000 can i invest the LTCG in REC Bond? |
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| Posted by: manas |
September 14 , 2011, 03:24 IST |
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| My father buy one plot in 1968 for Rs 8000 and build a house in 1971 for Rs 25000 loan from central government and repay this amount for 20 years and build 1st floor in 1995 for Rs 450000 and again some extension work in 2008 for Rs 200000 approximately.I want to know the index money for 40 years,if my father sell this house for Rs 40000000, how much he gain from this property and how much capital gain tax stand |
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| Posted by: SURYA |
August 24 , 2011, 12:49 IST |
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| I PURCHASED A PLOT AT Rs. 1,97,000/- on March -2003, sold same for Rs. 20,00,000/- how much i have to pay capital gain tax, and how to avoid it |
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| Posted by: Amogh |
August 14 , 2011, 08:03 IST |
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| capital gain received from sale of house can it be invested in purchase of a plot |
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| Posted by: Neil |
March 11 , 2011, 16:07 IST |
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| I have sold my old flat on 15th Jan 2010. I have booked a bigger flat under construction on 20th Jan 2010. The amount received from sale of old flat has been paid to the builder of new flat as part payment, the balance to be paid to builder in instalments by taking housing loan. The poession of new flat is expected in April 2012. Please advice if I need to pay any capital gain tax. |
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| Posted by: Rajan |
January 25 , 2011, 22:56 IST |
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| We are a family of four brothers and had an ancestral property. We got into a development agreement with a builder and later a sale deed. According to the agreement we would receive 15 lakhs each and 3 flats each on the property (which we have not received yet since the last two years). For tax calculation purpose, we got the property assessed as it was pre-1981 by a valuer. The value of the land worked out to two crores. My question is about myself. On what amount would the tax be calculated on 15 lakhs I have received or on the 2 crores which is the value of the land as per 1981 assessment? If on 15 lakhs then how much is the tax and under what section? If on 2 crores the tax is calculated then under what section? |
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| Posted by: h.n.p.khare |
October 04 , 2010, 12:57 IST |
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| sixty year old commercial property of land & building has been rented out for the last 45 years now it is to be sold out - actual propesed selling amount is half of the amount calculated as per circle rate now for calculation of capital gain tax & wealth tax witch of the above amount is to be considered |
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| Posted by: Chitra |
September 20 , 2010, 00:32 IST |
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| My mother left a 2 bedroom flat to my sister in mumbai. It was purchased in 1975. My sister wants to sell the home and purchase a smaller flat. Where can she invest the remaining of the capital gains to avoid paying taxes? Pl advise.... |
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Posted by: C L Golchha | October 01 , 2010, 18:05 IST |
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Remaining amount of capital gain can be invested in bonds u/s 54(EC). Bonds are NHAI and REC for a period of 3 years. |
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| Posted by: milind |
September 11 , 2010, 16:19 IST |
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| I has purchased Indl Gala in 1991-92 for Rs. 3,50,000 I shown it as fixed asset and claimed depreciation @ 10% its w.d.v. in 2009-10 is Rs. 60,000 I sold it for Rs. 8,00000/- during the year shall i Calculate Short term capital Gain or Long term capital gain > Its stamp duty value is rs. 18,00,000
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| Posted by: Manj Sonawane |
August 29 , 2010, 16:17 IST |
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| I had purchases flat on 30th Dec 2010, not do to financial problme I want to sale it after 8 mth, but my society refused to issue nOC for sale. I am already in Financial Problem and do to dealy I am loss around Rs.50000/- each month. How can I solve this |
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| Posted by: Harinder |
August 18 , 2010, 12:25 IST |
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| My father left a small house which was sold and the sale proceeds of Rs.325000/- was divided equally among 5 legal heirs (sons/daughters) and I received Rs.65000/- against my share. Kindly advise whether this amoung is exempted from tax or not. If not, what will be the tax implications. |
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| Posted by: arun dulani |
August 18 , 2010, 11:45 IST |
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| we purchased a property in 1994 37 group of peopel now we are selling it how the liability of capital gain would come on member's that they can reinvest and save capital gain |
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| Posted by: suneel qamra |
August 12 , 2010, 15:28 IST |
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| my father left a will saying that immovable property first to go o his wife followed by to his three children. Now my mother wants to sell and divide as per will, further the children intend to invest the amount on the property individually kindly guide whether tax on capital gain shall be exempted or not if yes law/rule for the same , if no then guide what is most feasible and how to save |
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| Posted by: Basu |
August 05 , 2010, 18:36 IST |
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| Cost incurred in residential plot development ( fencing + labour charges). For capital gain tax calculation do we need receipts? |
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| Posted by: pranay |
July 30 , 2010, 10:55 IST |
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| i ve purchased a flat on june-2007. now im planing to sell that small flat and made an agreement to by a flat which is going to be resitered on september-2010 and will be completed in all respect by january 2011. i want to sell old flat on january february 2010 (ie after shifting to me new flat) can i do this without any effect of capital gain that i likely to get from old flat. of if it will subject to capital gain what can be done to get exemption from capital gain. |
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| Posted by: Anurag |
July 29 , 2010, 14:31 IST |
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| My father purchased a piece of land in 1994. In 2008 the construction was done. Now he wants to sell the house. Will the resulting profit will lie in short term gain category or long term gain category and what will be the tax calculations. |
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| Posted by: sanjay |
July 24 , 2010, 01:36 IST |
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| My father has a house property which he had purchased approximately 25yrs ago & now he desires to sell that property. I am basically interested to know wat exactly would be the rate of appraisal,what could be the "formula" for the present value of our house.is that possible dat the selling amount if matches with the present value, could be considered as tax exempt.
I even want to know that if & only if there is a capital gain then I have to pay tax.
I have even come through that the value should be re-invested between the period of 36mths,can I deposit that money in bank for that particular period & enjoy interest out of it ,would this be tax exempted also? |
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| Posted by: ds |
July 21 , 2010, 14:33 IST |
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| we have a ancestrial property, nearly 60 years old. We are proposing to sell the same. and we might receive around 1 cr from the same. However we are 5 brothers and the received amount will be then equally shared amongst all.
I need to understand the complete working of tax calculation on the same.
Will this sale proceeding attracts any long term capital gains?
How much would be the tax for such deals?
Is the tax to be paid on total received amount or can individual brother pay his own tax?
What is the index value of such property?
Where to invest such amount and how would i get the tax rebate? |
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| Posted by: Rajeev Jain |
July 14 , 2010, 11:18 IST |
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| I bought a plot for 3.5 lacs and sold it 3.5 years later at 8 lakhs. But before I could get the whole proceeds of the sale, I purchased a flat for 18 lakhs and registration amt of Rs 90000. The contribution from old property was 5 lakhs at the time of purchase of new flat and remaining 3 laks has been paid 1 month later. How to compute capital gains on this and can This capital gains be considered to purchase another flat before I actuallly sold off the old property and still claim the benefits.Also can I use this money from sell off for paying off the Housing loan of another property to save capital gains.
Regards
Rajeev JAin |
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| Posted by: Vibhav Pandit |
July 12 , 2010, 16:50 IST |
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| How can one compute capital gains tax on sale of property where the sale proceeds are received equally by the joint owners whereas the investment at the time of purchase was done by the first owner. The joint owner had not invested his capital in the property at the time of purchase but at the time of sale, he has received 50% sale proceeds. Please reply to my query at the given email address. |
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| Posted by: Raju |
July 11 , 2010, 08:22 IST |
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| I have sold my flat on 09/11/2009 for Rs.1350000,which was purchased on 21 August 2001 for Rs.425000/ I have capital gain on this amount and i have not sufficient funds to deposit the same amount in capital gain account because out of this money i have paid Home Loan & Car Loan & Personal Loan and bear some other business losses. Pls tell me to avail the benefit of capital gain up to what date i have to purchase a plot for residential purpose. Also tell me if it will effect our Income Tax Return of 31 March 2010 in any way.
I |
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| Posted by: krishna |
July 11 , 2010, 08:20 IST |
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| I have purchased a old house in 1991 and given for development in 2007 and got 6 flats. I am not happy with the construction and the design of the flats. So I want to purchase new flats in different area. Do I have pay TAX or get exemption ? |
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| Posted by: deepak |
July 10 , 2010, 23:25 IST |
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| what is the difference between PFI and normal banks? scheduled and unscheduled bank? |
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| Posted by: J.L.Bajpai |
July 10 , 2010, 21:51 IST |
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| On sale of property how much tax from capital gain can be save. To save the tax what should I purchase? What is the tax rate on capital gain? |
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| Posted by: sekar |
June 08 , 2010, 22:08 IST |
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| i am a voluntarily retd psu emp from 1999.iwas regularly filed returns to it deptupto 2005.i was having income rs.77640 only per year.the income rae from mis int, employee pension scheeme,house rent.deducible savings from lic premiums.i stopped filing returns from 2005 since consequently for more than 6 yrs nil tax.now ihave no income except EPS pension of rs 670 per month only.Now i am selling my house property which may attract CG tax.The qstn is ,shall i indicate my old pan card to IT dept in my retuns if any as above.Further any severe penalty will be levied for the absent periods.PL advise.Thanking u in anticipation. |
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| Posted by: Neha Tipnis |
June 01 , 2010, 21:51 IST |
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| I have sold my flat on 10th April 2007At Rs. 8.87 Lacks Which was purchased in the Dec. 2002 at Rs. 2.5 Lacks (Long Term Capital gain) The entire amount I have deposited in the capital gain deposit scheme in May 2007. In between period I have purchased a home at Rs. 6.45 lacs. Now bank has take objection to deposite capitl gain amount to my account and ask me to show the tax paid proof. Actual my capital gain is approx. Rs. 5.5 lacks and invetment in new home is Rs. 6.45 Lacs. I dont have any othe income (hous wife). So what should I do. |
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| Posted by: H.B.Koyare |
May 22 , 2010, 15:17 IST |
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| I sold agriculture land 0.03R in last month, which was purchased in 1996. Whether, I can purchase the house property / flat instead of purchase the agriculture land for exepmtion of capital gain tax. |
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Posted by: hemant | December 17 , 2010, 02:58 IST |
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its easy pls call your son |
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| Posted by: billo |
May 20 , 2010, 11:37 IST |
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| i have ancestral property 1950 ,its a plot for which i m getting 2.75 cr
want to know what is a tax calculation i m 65 year old widow
pl help me with calculation |
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| Posted by: Ajay Kumar Verma |
May 05 , 2010, 21:06 IST |
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| I purchased a residential plot in Dec 2008 for Rs. 2.5 lakhs and now I want to sell it for Rs 4.5 lakh. Will the capital gains tax be applicable on this sale. If yes what will be the amount of capital gains tax and how can i get exemption from it. |
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| Posted by: Vinit Patel |
May 04 , 2010, 17:16 IST |
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| i have booked a house in 2006 underconstruction building for which i have been given a allotment letter no agreement is made ,the building is still not completed and now i want to sell that one and buy a ready house which is eight years old.
For selling the underconstruction bldg i have to make an agreement and that sell the house .The cost of the new house is more than the old house.
Will i have to pay tax for the same transaction.
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| Posted by: Hitesh |
May 04 , 2010, 11:31 IST |
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| My Father bought a shop almost 2003. He died in 2005. How can I sell it now.
Do I need to sign a release deed? What is the procedure? |
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| Posted by: Vivek Singhal |
April 21 , 2010, 21:13 IST |
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| My two ancestors jointly purchased a plot land in the year 1962.Thereafter they got it partitioned in the year 2000-11.In the year 2005 one of the ancestor gifted some portion of her share to me, the market value of whose was taken as Rs.4 lacs for the purpose of stamp duty. Now in the year 2010-11, I want to sell it.I want to know the computation of capital gains tax liability if I sell it in this fiscal 2010-11. The fair market value as on 1/4/1981 of such land which is gifted to me is assumed to be Rs.80 thousand.
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| Posted by: Jeevan |
April 20 , 2010, 15:20 IST |
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| My father owns a Flat purchased in 2005 for Rs. 6 Lacs. He wants to Gift the same to my uncle today. Current Fair Market Value is Rs. 13 Lacs. As I am aware there will be not Gift Tax to my father and no Income tax to my uncle, but when my uncle sale that flat how will be Capital Gain Tax Treatement? Will Capital Gain taxable in the hands of my father? If not then what will be cost of aquisition and date of aquisition to my uncle to calculate capital gain?
Jeevan Pendhari |
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| Posted by: Richard |
April 15 , 2010, 09:25 IST |
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| My brother and my mother and myself held the ownership of the family house in 1/3 shares for the past ten (10) years.
My mother just passed away, and my brother wants the family house, as his principle residence, and wants to buy my share (1/3)of the estate.
Who pays "Capital Gains" and how is it calculated. |
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| Posted by: coolshades |
April 14 , 2010, 15:07 IST |
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| i got possession of a flat in thane in march 2009 and also did registration immediately the same month. I sold the same flat in september 2009.
my CA tells me i will be liable to pay short term capital gains tax. However I also invested some funds from the proceeds of the sale, towards the possession and registration of another flat in thane, in december 2009.
will that count towards reducing my short term capital gains tax? |
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| Posted by: Vikrant Giatonde |
April 05 , 2010, 23:16 IST |
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| I will be selling a property worth Rs.17 lacks and buying a new property worth Rs.50 lacks within 3 months from selling the 17 lacks property. I will be doing a foreclosure of Rs.17 lacks by disposing this property for Rs.28 lacks.What will be the capital goods tax applicable for me in this transaction ? Will I be exempted from Capital Gains tax? |
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| Posted by: namisha |
April 03 , 2010, 19:55 IST |
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| i have an old property and purchase anew one in the ay 2009-10 and after 1 year i have sold old propert may be there arise a q of capital gain
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| Posted by: satish |
March 23 , 2010, 16:45 IST |
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| Pls elaborate on Capital Gains, when a Owner of land enters into a Contract with a Developer for Development of his land and in turn gets X flats. what will be capital gains in the hands of land owner at the time of receiving the flats and at the time of selling the flats? |
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Posted by: nitin | April 01 , 2010, 00:07 IST |
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ls elaborate on Capital Gains, when a Owner of land enters into a Contract with a Developer for Development of his land and in turn gets X flats. what will be capital gains in the hands of land owner at the time of receiving the flats and at the time of selling the flats?
Reply
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| Posted by: ashish |
March 18 , 2010, 13:39 IST |
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| My father has sold ancestral property at bijapur.Property is very old aproxx.150 yrs old.Power of attorney is in the name of my father.The amount received is supposed to be destributed between 3 bothers and my father.How to calculate capiotal gain tax liability in hands of all. |
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| Posted by: dil |
March 18 , 2010, 13:27 IST |
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| please quote the maximum nontaxable liquid capital one can hold after sale of a commertial property ? |
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| Posted by: rajiv |
March 17 , 2010, 19:19 IST |
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| i sold my old house .I had long term capital gain. i bought new plot from socity and i am the first allotee.i bought plot with capital gain money.do i need a registry for this plot also to show tax department or the socity"s first allotee papers will be fine for them |
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| Posted by: Sudheer |
March 08 , 2010, 18:08 IST |
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| I have sold some land for 8lak which is my fathers propety aht may be the tax? |
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| Posted by: manish |
March 08 , 2010, 14:28 IST |
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| i had purchasd a property in 1992 at the cost of 2 lakh, now i want to sell it ,the person who want to take the property is getting loan from nationalised bank and getting 11 lakh as loan and bank wants the registry of property worth rs 15 lakh. now on which amount i have to pay my long term capital gain tax and how. kindly solve my problem. |
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| Posted by: Biraj |
March 04 , 2010, 22:56 IST |
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| 1)Date of Purchase of house-26th Dec 2006
2)Agreement Value in 2006 2,00,000.
3)Currently there is one person who wants to buy my house at 16,00,000 lakhs but total amount in white
4)Also I am going to purchase a new house in a month which is of total 40,00,000, however the white agreement will be of 28,00,000 only. In the 28,00,000 lakhs, 25lakhs will be bank loan and other 3 lakhs I will pay
Hence do I need to pay capital gain tax on the remaining white money of mine which is 13 lakhs (16,00,000-3,00,000)?
please answer my query...
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| Posted by: chandni |
March 02 , 2010, 17:46 IST |
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| i am a director/promoter/shareholder of a private limited company and i have given land which is in my name to company on lease and on that land company had constructed the building in its name in 2003.
now we have sold land and building to some x party and against remittance which we have received from buyer we have acquired a another private limited company which is not currently in operations. we have acquired only with purpose of purchasing land and building. now pls let me know can we considered deemed acquisition of land and building in calculation of capital gain as we have acquired shares of company and not land and building.can acquisition of share be treated as acquisition of purchase of land and building for capital gain tax calculation. pls help it out its urgent. |
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| Posted by: samir |
March 02 , 2010, 15:10 IST |
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| i will be getting more than 1 crore from selling na land purchased befote 30 years. what to plan regarding capitalgain tex. |
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| Posted by: Bala |
February 22 , 2010, 13:42 IST |
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| Sir,
Myself and my wife purchased the house. she contributed 2lacs. cost of the house was 25 lacs when purchased. I paid 3lacs and remaining i took loan and i am paying the EMI. Now the problem is we are getting separted. I am giong to pay 2lacs what she contributed initially. she will be releasing a property in my name. In this case, in future if i sell the property more than what i purchased will capital gain affect the relesor?? whether she needs to pay any tax for the capital gain?? Once the property is released by the relesor will capital gain hit there tax??? pls clarify asap. |
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| Posted by: geeta |
February 10 , 2010, 16:21 IST |
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| MY MOTHER HAD SOLD THE PROPERTY IN GUNTUR WE WANT TO BUY COMMERCIAL CAN WE DO IT OR NOT |
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| Posted by: kalidoss |
February 02 , 2010, 12:15 IST |
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| whether the company is eligible exemptions from long term capital gain to sale of depreciable asset (building).at what kind of exemptions are available.please let me know |
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| Posted by: dibya |
January 05 , 2010, 12:49 IST |
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| i just want to know about short term capital gain tax. if my income is rs.3 lakhs per annum and i earned rs.4 lakhs from commodities market so i have to give separate 15% tax on the basis of rs.4 lakhs or 4+3= rs. 7 laks income * which have tax. |
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| Posted by: sandip |
December 27 , 2009, 16:52 IST |
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| my mother sold her property at 50 lacs as on 30/06/09 which was bought in 1956 on tenancy basis so please guide me how to save my capital gain tex i am living in mumbai [INDIA]my mother is widow in her age is now 80 |
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| Posted by: Sundeep |
December 19 , 2009, 11:48 IST |
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| I had sold my flat, acquired in the year 1995-96 at Rs 350000, in the year 2008-09 at the cost of Rs 950500. I paid this amount to bank from which I have taken loan for my new flat acquired in the year 2005-06. Will it attract tax on capital gain. |
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Posted by: avinash | December 19 , 2009, 21:27 IST |
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have a similar query sandeep, please help and contact me , ph--9891617681, give me your number too, hope we find a common solution to this problem
I bought a residential property on 12 dec 2006, now i have sold it on 18 dec 2009.
I bought another flat in feb 2008 for which i got possession on oct 2008, i have taken housing loan for this flat .
Now can i adjust my long term gain of sale of property, against repayment of housing loan i have taken for flat.
please reply at the earliest and help |
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| Posted by: Ramu |
November 27 , 2009, 16:19 IST |
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| How to save on short term capital gains, gain is only on paper if i take into account home loan interest paid?
nearly 85% of payment for the property was paid in march 2007 and the property was sold in August 2009, is indexation taken into account? Can i invest only to the tune of capital gains in land/ flat to avoid paying capital gains? is not the home loan interest taken into account while arriving at capital gains?
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| Posted by: DKJAIN |
November 18 , 2009, 18:54 IST |
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| I have booked a flat in 2006 and got possession in MArch, 2008 at a cost of Rs. 15.12 lakhs+Rs. 2.00 lakhs towards one time maaintenance, club membership & ar parking + Rs. 1.50 lakhs Registration & Stamp duty + Rs. 1.50 lakhs incurred on addition & Alterations of flat.
I have sold out that falt for Rs. 27.00 lakhs in November, 2009 and paid brokerage of Rs. 45,000/- From the rest of amount I have paid Rs. 7.50 lakhs towards outstanding HB Loan and purchased land for Rs. 15.75 lakhs and apid brokerage Rs. 21000/- and Registration & Stamp duty of Rs. 1.00 lakhs only.
Please guide me on the followings:
1. Whether capital gain is hort terms or long term
2. Whether the capital gain will be set off agianst the land purchased
3. How much will be tax liability as the flat was sold within 20 months 4. 4. How I cane save the maximum tax.
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| Posted by: Amit |
November 09 , 2009, 16:26 IST |
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| Hi,
My mother is selling property in Delhi purchased in 1991. However in order to avoid Long Term Capital Gain tax she is willing to invest in new property which I shall purchase from the 50% of sale proceeds of old flat ( balance 50% shall be transferred to my brother). If she becomes co owner in new property, will long term capital gain arising from sale of old property be exempt from tax in her hands? |
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| Posted by: Sujit |
November 08 , 2009, 10:55 IST |
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| My mom sold a property which was 25 yrl old.she got the money and after a few months she expired.Is there tax for a person who is dead?
Regards
Sujit |
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| Posted by: AAK |
November 07 , 2009, 20:13 IST |
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| Pls elaborate on Capital Gains, when a Owner of land enters into a Contract with a Developer for Development of his land with the adjoining land of the developer and gets X amount of constructed area in the new building of the consolidated development on the upper floors. Wether this can be treated as exchange of land with Constructed premises? |
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| Posted by: DEBASISH |
November 06 , 2009, 21:47 IST |
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| I'VE PURCHASED A FLAT YEAR 2007-2008 VALUE RS.12,50,000/-. NOW I PLAN TO SALE IT ON RS.28,00,000/-. THE GOVT. REGISTER ER VALUE IT RS.31 LACS. WHAT SHOULD BE THE CAPITAL GAIN TAX & HOW TO CALCULATE IT? PLEASE SUGGEST WHAT IS THE BEST TAX PLANING? |
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| Posted by: vinay |
October 27 , 2009, 10:30 IST |
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| I have inherited three flats through a family partition deed in the month of September 09 .i would like to sell one of the flats and use part of the money on business, what will be the capital gains be and can i get any exemption if i invest in any other property , PLEASE SUGGEST |
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| Posted by: Madhavi |
October 24 , 2009, 13:39 IST |
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| I have booked a under construction flat in 2006. Sale deed was executed between builder and me in May 2006. But it was not registered. Complete consideration was paid to builder in May 2006. I have not yet taken the possession and have not registered the sale deed. Now I want to sell the flat by making assignment agreement between me, buyer and the builder. Thus I will be selling the property before registering the flat that I have purchased under construction. I have following questions in this matter:
1. How the gain will be calculated in this case?
2 will it be short term or long term capital gain?
Kindly advice
Thanks
Madhavi
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Posted by: Sarika | January 30 , 2010, 22:31 IST |
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Please do mail me the solution if you get one. Even i have been searching this from long time. |
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Posted by: Mishti | January 22 , 2010, 08:23 IST |
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I am in your shoes Madhvi except my apt was on installment payment plan for 3 years and was handed over to me on the 4th year. Since municipal corp could not assess that complex then the builder did not ask anyone (1700 residents in that complex) to register the allotment letter during booking or installment payment period. Builder is one of the premium in India, so if they misguide buyers I am not sure how one can get help. If registering the sale deed authenticates then I saw no reason for the builder not to suggest registration after all, no one knows when one has to sell. My mother is very sick and I have to sell my apt but for no fault of mine will be paying such a huge capital gain tax. Builder gave me possession in April 2009 |
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| Posted by: Deepak |
October 19 , 2009, 18:15 IST |
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| I recently bought a floor of 40 Lac in Ghaziabad. The day I bought it, circle rate revised from 26000 to 35000. As per the new rates, the actual cost of the floor comes out to be some 51 Lac. Now the seller asking for the tax he is going to pay on that extra 11 lac (51 Lac-40 Lac). I am trying to convince him that when the actual income generation from sale of property will be 40 Lac, how Tax Dept will levy tax on him on 51 Lac. Can you please guide the correct approach please |
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| Posted by: chinke |
October 08 , 2009, 15:37 IST |
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| kindly let me know if there is any book availble in India on the principles of property in India as i am getting into real estate as a consultant and would like to know more on the same.
thankyou.
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| Posted by: hemant |
September 29 , 2009, 12:26 IST |
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| Dear sir,
my landlord is planning to redevelopment of the property.where I am a tenent of 1000 sq ft flat. He is ready to make me payment for vaccating the flat.How should I take payment? Demand draft / cash . will there be capital gain tax on it? From received ammount I AM TO BUY ONE OWNERSHIP
FLAT FOR MY FAMILY. PLEASE GUIDE ME. |
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| Posted by: cmraman |
September 07 , 2009, 11:52 IST |
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| Pl clarify whether one is eligible for excemption of tax on capital gain if the amount is fully invested jointly with spouse or son for purchase of a flat or house. Is it necessary that the property should be purchased i9n the name of the person getting capital gain. |
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| Posted by: DIPAk |
September 06 , 2009, 17:21 IST |
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| if i invest in a property, make part payments for booking, and sell the property within one year what tax implications, and if i sell it after three years , what would be tax implecations. |
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| Posted by: AmitMehendale |
August 04 , 2009, 13:59 IST |
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| My wife got 20L from her Ansestors property sell. We have invested this in new Propery which was costing 31L. For the remaining amount I took Loan from bank. If I sell this flat before 3 yrs do I need to pay tax on entire amount i.e. 20L or the capital gain amount out of 20L? |
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| Posted by: vlnmca |
July 30 , 2009, 07:05 IST |
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| Hi, Whether I have to open a capital gain account in the bank to do the transaction of selling old flat and purchase new flat. Kindly suggest me |
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| Posted by: BABA |
July 24 , 2009, 15:44 IST |
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| i have applied for membership in a society in 1980 started making payment from 1981 till 2002. I got possession letter in 2003 after complition of society. I sold the flat in 2008-09.How can i make idexation. Wether indexation will done as an when i make payment or at the time i become member of society or when i got possession letter. |
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| Posted by: CATS |
July 21 , 2009, 17:28 IST |
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| I have booked a flat three years back in a building which was yet to be constructed and now after three years also I do not have the possession of my flat as the building is not yet complete. I am getting a chance to sell my right of allotment of this flat, can I claim exemption under section 54f by saying that I have sold the rights in a capital asset purchased three years back. |
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| Posted by: akm |
July 16 , 2009, 12:01 IST |
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| I booked the flat in jan.2005 for rs. 32.87 lakhs.spent 96 thousand on registery gave 40 thousand as maintainance security. i took loan of rs. 15 lakhs,and paid interest. i got possession in oct 2008, now i am planning to sell it for rs.40 lakhs, i don't want to invest in property. i own a residential house. what will be the short term capital gain tax. |
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| Posted by: srs |
June 27 , 2009, 18:43 IST |
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| I WOULD LIKE TO KNOW THE LONG TERM CAPITAL GAINS TAX ON SALE OF old 7 yrs old flat where i lived through out, and by the time i retired i have sold it of to 58 lacs. the original cost to me while allotment of the old flat was 15 lacs, and i have spent 3 lacs on wood work electrical fittings etc., registration etc., and around 7-8 lacs i would have paid interest on housing loan taken on this property, in that what is the capital gain, when i sold of this flat for 58 lacs...
also out this 58 lacs i have immediately booked a new flat for 51 lacs which is likely to be alloted in sept 2009,
is there any captal gain on this sale/purchase and is there any incometax liability on this for me to pay income tax, if so how much and how should i invest on to fave the tax and as wellthe amount of capital for my use during retired lief, already i am 61 yrs, and my wife age is 57 yrs may be both are covered under senior citizen catagary |
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| Posted by: DIPENSHAH |
June 20 , 2009, 14:20 IST |
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| I WOULD LIKE TO KNOW THE LONG TERM CAPITAL GAINS TAX ON SALE OF INDUSTRIAL GALA, CAN I AVAIL OF THE COST INFLATION INDEXATION METHOD TO WORK OUT THE CAPITAL GAIN, I AM NOT SURE IF WE HAVE CLAIMED DEPRICIATION ON THE GALA, SINCE THIS IS A 40 YEAR OLD PROPERTY WHICH WAS GIVEN ON LEAVE LICENCE ABOUT 35 YEARS AGO.
Thanks
Dipen Shah |
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| Posted by: atul |
May 28 , 2009, 13:09 IST |
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| sir , i have 4930sqft flot+land , i want to sell this property and buy a new property in some amount of them and some to doing business , how can i relief from capital gain ? my property have 30yrs old. please get me your suggection for that problem ? |
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| Posted by: Shailender |
May 24 , 2009, 13:32 IST |
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| I had purchased a flat in 1989. Now I want to sell out this flat and want to purchase a commercial property. Would I get exemption to the extent of the capital gain invested in the new property. Please advise? |
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Posted by: tejal | May 05 , 2010, 09:05 IST |
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I want to know whether I can purchase commercial property out of proceeds arising by selling residential flat.Would I get exemption of the capital gain invested in the new property. Please advise. |
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| Posted by: Mani |
May 22 , 2009, 17:36 IST |
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| I have acquired our family property consisting of land and residential through a gift deed executed by my brothers. The property originally belonged to my parents after their death several years back it was jointly owned by me and my brothers as legal heirs. In 2008 I have got it transferred to my name through a gift deed.
I am now considerding to sell the property. Please advise the aspect of Capital gains that I would be liable to pay - Short Term or Long Term?
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| Posted by: ravi |
May 13 , 2009, 07:34 IST |
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| I am running a printing press. If i sell my gala/unit in the industrial estate and get a profit, what are the implications of capital gain. If i invest the same in a house property, can i avoid the tax? |
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| Posted by: swamy |
May 09 , 2009, 18:21 IST |
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| I Have two flats procured at home loan of 8 lacs. i bought these flats in October 2006. Now I intend to sell those two flats at current market price at 20 lac approx to buy a single new flat at 30 lac.. with sale proceeds i will repay 8 lac in home loan, 12 lac approx for new house. will take another home loan for the balance amount. kindly let me know what will be the capital gain implication in this considering the sale amount, my home loans both old and the new one whole puchasing a new flat and what i need to take care of. |
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| Posted by: Meera |
April 11 , 2009, 13:54 IST |
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| When does the seller need to take up the burden of stamp duties during sale of his property? |
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| Posted by: Samir |
March 26 , 2009, 18:55 IST |
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| Hi, I bought a property 1 year back and I want to sell it off. What are the various legal ways with which I can reduce or save my Short term Capital Gain? |
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| Posted by: Farry |
March 21 , 2009, 12:28 IST |
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| I purchased a flat at 5 Lacs in Decembe 1998, what can be tax free selling price now. |
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| Posted by: harpreet |
March 11 , 2009, 22:57 IST |
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| can i set off Long Term Capital Gains by selling my old property, by paying off other home loans? |
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| Posted by: k.k.ghose |
March 11 , 2009, 10:56 IST |
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| Sir:I inherited portion of a house from my mother after her death in 2000.What would the capital gains be if I now sell it? How will the initial price be determined to compute C.G Tax? The house was built in 1967. |
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| Posted by: K.K.Ghose |
March 11 , 2009, 10:51 IST |
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| Sir:I have recently sold my flat purchased in 1991.I understand that until I decide to invest the money - bond purchase or buying new property- I will have to deposit the amount in a special capital account in a bank; am I correct in my understanding? Supposing I pay capital gains tax should I be free to spend the remaining amount in any other way?
K.K. Ghose,Kolkata,11.03.2009. |
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Posted by: drgeetashah | February 26 , 2010, 14:32 IST |
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wish to know the period of investment inflat . Ihave received THE AMOUNT ON29/2/2008 ANDSAME ISPUT IN CAPITAL GAIN SCHEME as fix depositIN BANK .Iwish tobuy new flat please advise THANKS DR GEETA MUMBAI
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| Posted by: mika |
March 05 , 2009, 14:41 IST |
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| Can you please advise if there is any capital gain exemption if the moneies from a property sale are totally reinvested in long term bank notice accounts in India |
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| Posted by: krchakraborty |
February 19 , 2009, 17:24 IST |
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| I am aware of the basics of long term capital gains tax and am able to compute the same using cost inflation index, etc. However, one aspect is not clear :
The housing loan balance has to be repaid before selling a flat/property. Does the selling price reduce by this amount while calculating Long Term Capital Gains Tax?
eg: Flat purchased for say 7 lakhs in Apr 2005 with a loan of 6 lakhs is being sold for say 14 lakhs in Apr 2009. If balance loan is say 5 lakhs it will have to be returned for clearing the mortgage. So will the selling price become 14 - 5 = 9 lakhs for computing the long term capital gains tax or will it remain as 14 lakhs?
Kidly elucidate and oblige. Thanks.
KR Chakraborty.
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| Posted by: neel |
December 23 , 2008, 23:13 IST |
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| We have a open land which has succeded from our grand parents. Can you please advise if the LTCG Tax will be applicable if we are selling it now. Where will I get the infor for the same. |
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| Posted by: Shyam |
December 02 , 2008, 14:16 IST |
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| I purchased a flat in 2000. Bought new bigger one in 2004. Being under construction, increased HDFC loan amount and retained earlier one. In 2008 August sold old flat to reduce part of HDFC and hand loans of Credit card cos. What are the expenses which can be reduced to decide my required investment in bonds, such as repayment of loans. Are hand loans permitted? I wished to retain both flats but deficits increased also due to large medical expenses on mother leading to huge deficits and loans. |
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| Posted by: Nilesh |
December 01 , 2008, 14:59 IST |
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| i have property want to sell which is purchased 1-2 rs before, wnated to know the tax planning to reduce or avoid teh tax on short term capital gains.
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| Posted by: abc |
November 25 , 2008, 20:42 IST |
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| i have a property which i propose to sell.from the amount i get i propose to clear my loan of another property which also is in my name. is tax exemption applicable.the 2nd property was bought 2 yrs back. |
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| Posted by: XYZ |
November 14 , 2008, 16:57 IST |
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| I have earned capital receipts from sale of a unit of my business. As per the Board Resolution passed, such amount has been credited to Capital Reserves in the Balance Sheet. now the company wants to issue bonus shares. So can such Capital Reserves be utilised for the issue of the same? |
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| Posted by: Murthy |
October 27 , 2008, 14:26 IST |
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| I plan to buy a bigger flat and will sell my old flat to raise the funds. The old flat was bought 12 years ago and I expect to make a decent capital gain on the sale. Also I avail loan for my fresh flat and the part of sale amount I use for business. Is it exempted from capital gains? |
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| Posted by: Murthy |
October 15 , 2008, 14:47 IST |
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| I plan to buy a bigger flat and will sell my old flat to raise the funds. The old flat was bought 12 years ago and I expect to make a decent capital gain on the sale. Also I avail loan for my fresh flat and the part of sale amount I use for business. Is it exempted from capital gains?
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