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Ans: If you are selling the property before 31 March 2025, then you need to consider Capital Gain in IT Returns in FY 2024-25 itself

Ans: If the maturity amount is reflected in your AIS, then it is advisable to file return even if you are retired and do not have any other income.
Vipul Bhavsar
Chartered Accountant

Ans: You need to speak to your employer or a PF consultant who will guide you
Vipul Bhavsar
Chartered Accountant

Ans: Dear Shyam,
Please explain your question.

Ans: If the property is purchased on or before 22nd July 2024, then only indexation benefit can be taken.
Cost of acquisition and improvement both shall be eligible
You can keep the gain in CAGS and should be utilised with in 2 years for purchase or 3 years for construction of house
If you fail to invest in new property within given time frame, the capital gain exemption claimed earlier shall be withdrawn and Tax shall be payable along with Interest.
CAGS should be opened and funded within 6 months from date of sale or due date of filing of Return of Income, whichever is Earlier

Ans: Since it is transferred in Oct 2024 or later, if you sell it before 2 years from the date of transfer in your nmae, it shall be short term capital gain and wont be allowed any capital gain exemptions. You shall be eligible for exemptions only on Long Term Capital gain, so you will have to sell the flat 2 years after the date of transfer of flat in your names.

Ans: If you are Resident in India, then global income shall be taxable in India

Ans: The answer to this is based on the agreement of the flat owners with the developer.

Ans: Dear Prasad sir,
You shall need to Calculate the Fair Market Value of the property as on 1 Apr 2001. This value shall be your Cost of Acquisition (COA). The difference between the Document Price at which you sold the property and COA shall be Long Term Capital Gain.
If the sale transaction is on or after 23rd July 2024, Long Term Capital Gain shall be taxed either at a rate of 12.5% without indexation benefits or 20% with indexation benefits.
Indeed, exemptions are allowed to you to save on Tax on LTCG, if you invest as follows:

Section 54 - If old asset sold was residential house
New residential house is purchased within 1 yr before or 2 years after the date of sale or constructed within 3 years from date of sale (This house must not be sold within 3 years from date of purchase, if sold entire Tax said saved shall be repayable
Investment amount shall be Long-Term Capital Gain OR Cost of a new asset, whichever lesser

54EC
Purchase of NHAI bonds or RECL bonds, redeemable after 5 years. Maximum sum allowed is Rs.50 Lakhs
Investment to be done within 6 months from date of sale

54F - If old asset was NOT Residential house
New residential house is purchased within 1 yr before or 2 years after the date of sale or constructed within 3 years from date of sale (This house must not be sold within 3 years from date of purchase, if sold entire Tax said saved shall be repayable).
Exemption shall be calculated as Cost of new asset x Capital Gain / Net consideration (maximum up to capital gain)

Kindly consult CA for detailed calculation after verification of documents
Regards,
Vipul Bhavsar
Chartered Accountant

Ans: No. There is no thumb rule for this.

Ans: Assuming STCG is from Shares on which STT is paid and sold after 23 Jul 2024, your tax liability for FY 2024-25 shall be around Rs.21300

Ans: Yes he can purchase 2 properties and claim exemption under Sec 54, (this option is available only once in lifetime).
However, it is suggested to consult CA in order to make calculations and conscious decision with complete details before taking action as there are various factor to be considered before

Ans: Yes you can purchase one residential property within2 years or construct within 3 years provided you do not own more than one property already.
Exemption shall be
Exemption = Long term capital gain * Amount re-invested / Net consideration

Ans: Kindly submit complete query

Ans: Based on Long Term and Short Term capital gain, you can claim exemption and balance shall be liable to tax as per applicable rates

Ans: I trust you want to ask about 15G and not 16G.
No, you cannot file 15G based on your income

Ans: Since the MFs are being held and sold in India, you are liable to pay tax on the capital gain @ 12.5% (On exceeding Rs 1,25,000 gains)

Ans: If you are selling the flat that has been owned for more than 24 months, you can claim exemptions under Sec 54, 54F 54 EC. etc based on type of asset.

Ans: Around Rs.161000 for FY 2024-25
Around Rs.130000 for FY 2025-26, after adoption of Budget 2025

Ans: 1. You can setoff profit against Loss from Long Term capital loss
2. If you have paid professional fees for managing your portfolio such as PMS, you can claim that expense
Please consult CA before to gain a professional advice

Ans: Dear Sir,
The cost of acquisition of shares purchased before 31 Jan 2018 and sold there after shall be as follows

COA of such investments shall be deemed to be the higher of:

The actual COA of such investments; and
The lower of-
Fair Market Value (‘FMV’) of such investments as on 31 Jan 2018; and
the Full Value of Consideration received or accruing as a result of the transfer of the capital asset i.e. the Sale Price
Further, the FMV would be the highest price quoted on the recognised stock exchange on 31 January 2018.

Though there has been split up of shares, that does not change the COA since the COA will be distributed over all the shares of respective company and Total amount of COA shall be arrived as per the method given above.

Ans: Assuming that the property was purchased during FY 2010-11, the indexed cost of acquisition works out to Rs.4305136. So Long Term Capital Gain shall be 1094863. This can be divided between you and son equally and after adding to other income, tax shall be calculated at 20% for your son. For you if no other income then amount remaining after basic exemption limit shall be taxable at 20%

Ans: Around Rs.562000 for FY 2025-26 New Regime

Ans: Around Rs.208000 for FY 2025-26 New Regime

Ans: Right, It holds true for FY 2025-26

Ans: If you are going for Old Tax Regime then following options for reduction in Tax outgo
1. Standard Deduction on salary
2. HRA
3. NPS contribution from Salary
4. Investments under 80 C i.e. Life Insurance, Tax saving MF, 5 yr FD
5. Mediclaim 80D
6. Voluntary Payment of NPS upto Rs.50000
7. If you have home loan then Home loan Principal can be claimed under 80C and Interest under House Property
8. Interest on Savings Account upto Rs.10000
Based on these deduction, you need to calculate total deduction and tax liability. If the Income after deduction goes below Rs.5 Lakhs, No tax liability for you

Ans: No tax upto 12 Lakhs is for those who opt New Regime. For Old regime and Income above 12 Lakhs, the tax slabs and rate are applicable

Ans: Capital Gain Liability needs to be calculated for your mother in law. The amount received to your wife is gift and a gift deed needs to be executed

Ans: Actual rent paid Rs.2 Lakhs

Ans: Dear Shashi,
You can invest it the way you want in 2025 and 2026 but in your name.

Ans: Dear Sir,
The selling brother shall calculate the capital gain for his share in the property. Considering the holding period to be more than 2 years, he will be able to claim exemptions under section 54, 54F, 54EC etc.

Ans: Hello Madam,
1. Assuming New property being held for investment shall be Rented out, the Home loan interest is allowed as deduction from rental income. Rental income after reducing Home Loan interest, if any of this property shall be added to your existing income eg. salary/business. This can be done only if Old Scheme of Taxation is adopted.
2. If sold, Capital gain shall be applicable and exemption under 54, 54 F, 54EC etc may be claimed.

It is advised to consult a CA as there are different scenarios which shall be required to be considered like your existing income, Tax liability comparison between old and new regime, your future planning etc

Ans: Sir, following are the assumption that I have made before answering your questions since the data is incomplete.
1. The property is inherited before 2 years from date of sale
2. Apart from the property is sold, you own only one house
3. The inherited property that is sold is a residential house/plot
4. New property being bought is residential house property

You can invest the Long term capital gain and claim exemption under section 54 and 54F subject to the new property is not sold before 3 yrs from the date of acquisition

Ans: Dear Sir,
Assuming that you have served continuously during the given periods with different employers for 5 years atleast and the Provident fund is recognised, you have no tax liability and it is exempt from tax.

Ans: Dear Sir,
Kindly provide figures as to ascertain the exact benefits and exemptions values that may be available/claimed. Moreover, the Tax Liability can be arrived at after considering New Scheme and Old scheme as well.
Please provide full data to answer your query

Ans: Dear Sir,
The Land is not a Depreciable asset. The depreciation shall always be on Godown.