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T S Khurana

T S Khurana   |536 Answers  |Ask -

Tax Expert - Answered on Sep 24, 2025

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Vishnu Question by Vishnu on Aug 04, 2025Hindi
Money

I am a government employee. I take LTC in year 2023-24, but i got reimbursment in year 2024-25. I opt old tax regime in 2023-24 (Completed journey in same year) in which LTC was tax free but recieved amount against reimbursment in 2024-25. How to claim deduction on this amount? Logically, if LTC journey is completed in old tax regime, it should be tax free. 10E form accept values of income of previous year but LTC amount is not taxable in old tax regime

Ans: You have received amount of Reimbursement during F/Y 24-25, for LTC availed during previous year. So the tax liability of this amount is only for F/Y 2023-24 & not 2024-25. Please don't include this amount in your income for the F/Y 2024-25.
Most Welcome for further clarifications, if any. Thanks.
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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Good Morning. I am a fan of yours and read you severally on Rediff replying queries of various Tax Problems. Sir, now I have a tax query and earnestly request you to resolve that which is as follows: My query is: I booked an under construction flat worth Rs.45.00 lacs which is scheduled to be ready for procession in year F.Y.2025-26. Now I sold shares worth Rs. 10,00,000/- and total amount paid to builder in F.Y.2022-23. Out of shares sold my LTCG IS Rs.700,000/-. Can I claim exemption for LTCG to that amount only which is given as advance in corresponding year? Again in F.Y. 2023-24 I will pay Rs.20,00,000/- by selling shares and LTCG of Rs.10,00,000/-. Can I claim Exemption for LTCG? Same process will happen in next 2 F.Ys. till procession of my new Flat. Can I claim exemption on LTCG on sale of shares in each financial year? Please also guide to fill ITR also for claiming above exemption in parts.
Ans: In respect of capital gains you can claim exemption from long term capital gains if the net sale consideration is invested in booking an under construction house. You get an extended period of three years to get possession in case it is booked with a developer.

In case the sale consideration is not fully invested in the residential house before filing of the Income Tax Return, the unutilised money has to be deposited with a bank under Capital Gains Account Scheme. The money deposited can be utilised within the prescribed period for payment of house.

You have to keep in mind that to claim this exemption, you should not own more than one residential house property on the date of sale of the shares except the one in respect of which you are claiming the exemption.

So once you claim exemption in FY 22 23, it is not advisable to claim exemption against gain earned in subsequent years.

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My married ex still texts me for comfort. Because of him, I am unable to move on. He makes me feel guilty by saying he got married out of family pressure. His dad is a cardiac patient and mom is being treated for cancer. He comforts me by saying he will get separated soon and we will get married because he only loves me. We have been in a relationship for 14 years and despite everything we tried, his parents refused to accept me, so he chose to get married to someone who understands our situation. I don't know when he will separate from his wife. She knows about us too but she comes from a traditional family. She also confirmed there is no physical intimacy between them. I trust him, but is it worth losing my youth for him? Honestly, I am worried and very confused.
Ans: Dear Anonymous,
I understand how difficult it is to let go of a relationship you have built from scratch, but is it really how you want to continue? It really seems to be going nowhere. His parents are already in bad health and he married someone else for their happiness. Does it seem like he will be able to leave her? So many people’s happiness and lives depend on this one decision. I think it’s about time you and your BF have a clear conversation about the same. If he can’t give a proper timeline, please try to understand his situation. But also make sure he understands yours and maybe rethink this equation. It really isn’t healthy. You deserve a love you can have wholly, and not just in pieces, and in the shadows.

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My son will be appearing for JEE Main & JEE Advanced 2026 and will participate in JoSAA Counselling 2026. I request clarification regarding the GEN-EWS certificate date requirement for next year. I have already applied for an EWS certificate for current year 2025, and the application is under process. However, I am unsure whether this certificate will be accepted during JoSAA 2026, or whether candidates will be required to submit a fresh certificate for FY 2026–27 (issued on or after 1 April 2026). My concern is that if JoSAA requires a certificate issued after 1 April 2026, students will have only 1–1.5 months to complete the entire procedure, which is difficult considering normal government processing timelines. Also, during current JEE form filling, students are asked to upload a GEN-EWS certificate issued on or after 1 April 2025, or an application acknowledgement. This has created confusion among parents regarding which year’s certificate will finally be valid at the time of counselling. I request your kind guidance on: Which GEN-EWS certificate will be accepted for JoSAA Counselling 2026 — a certificate for FY 2025–26 (issued after 1 April 2025), or a new certificate for FY 2026–27 (issued after 1 April 2026)?
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You need not worry about the EWS certificate. Even if you apply for the next year's certificate on 1 Apr 2026, the second session of JEE MAINS will still be held, followed by JEE ADVANCED, which will be held in May. JOSAA starts in June. so you will have 2 months in hand for fresh EWS certificate.

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