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Mahesh Padmanabhan  | Answer  |Ask -

Tax Expert - Answered on May 05, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more
Asked by Anonymous - Apr 24, 2023Hindi
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Money

We bought a flat in 2002 for 17L possession of which was given in 2003. However, the registration (registration fees about 1.65L) was done in 2016, in my husband's name. My husband transferred the property to me via a gift deed in 2018. I am selling this property this year (2023) for 95L. What is the LTCG on this property on which I have to pay tax? What will be the date of acquisition and cost of acquisition to be considered on which indexation is to be done?

Ans: Hi,
There are lot of ambiguities in your query. Certain questions that are pertinent are as follows:

Was the Rs. 17 Lakhs fully paid in 2002?
How was the possesion given in 2003 without registration and it was done only in 2016?
What was the proportion of payment that was made by you individually and your husband?

The answers to this query would change based on inputs to the above questions. However, i will try to give a generic response to your queries

Indexed Cost of Rs. 17 Lakhs - Rs. 56,34,286
Indexed Cost of Rs. 1.65 Lakhs - Rs. 2,17,500
Total Indexed Cost - Rs. 58,51,786
Sale Consideration - Rs. 95 Lakhs
Long Term Capital Gain - Rs. 36,48,214

Most critical point here is that this capital gain would be taxed in the hands of your husband and not you as he has gifted the property to you without any monetary consideration. This is based on the clubbing provisions of the Income Tax Act
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - Jan 09, 2025Hindi
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Health
I’ve been concerned about the colour of my teeth for a while now. Despite brushing regularly, my teeth are quite yellow, especially my front teeth. I’ve tried a few over-the-counter whitening products, but they haven’t really worked, and I’m getting frustrated. How long can I expect the whitening effects to last?
Ans: Hello
Only a few of us are lucky enough to be born with pearly white teeth. The rest of us have to make do with teeth which have a naturally creamish, greyish or brownish tinge of varying degree. I am, of course, not referring to those who choose to have poor oral hygiene or are addicted to smoking or chewing tobacco.
I'm afraid brushing well - or even brushing obsessively - is not going to make your teeth any whiter. On the contrary, brushing excessively or brushing hard can make your teeth look even more discoloured by unintentionally wearing away the enamel (the hard, outermost and whitest of the tooth's layers)
Over-the-counter whitening products are essentially mild versions of chemical bleaching agents (intentionally kept mild because such products are used unsupervised) which have limited effect or may take a long time to show results.
Your dentist, on the other hand, can bleach your teeth using suitable agents of stronger concentration which will show quicker and more visible effect.
In some cases, where the discoloration cannot be corrected by bleaching, you may need to have veneers made for your front teeth which will 'hide' the discoloration.
Please consult your dentist to know your best option.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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