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Vivek Lala  |305 Answers  |Ask -

Tax, MF Expert - Answered on Jan 24, 2024

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
Roshan Question by Roshan on Jan 09, 2024Hindi
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Hello Mr. Vivek, I am retired from private service and now doing technical consultancy, earning some monthly amount which is coming below taxable income. My father built a house on a plot, which was on my name about 30 year back at Chandigarh. The plot was on lease for 30 years and not a free hold. Now we like to sell it off. I have one younger brother and I have share 50% of sell amount with him. Can the tax liability on capital gain, which may be on me, be share with him or not. Please advise. Thanks in advance. R. Lal

Ans: Hello, yes the liability of tax can be shared by both. If the income is coming in your account, you can pay the entire amount of tax and then split the remaining with your brother.
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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I've joined offline PW coaching this year and having no guidance at all i didn't knew the ground reality of coachings and stem subjects. I've already spent 1 lakh for 2 year course and now coaching is just draining and managing it with school where coaching is not helping at all even tho they're tied up with the school which is resulting in backlogs. I'm unable to manage self study time to actually focus because if my basics aren't clear then how am I supposed to do the advanced ones. I'm thinking to leave the coaching, there's also a lot of pressure and demotivation from parents as they think I'm the one causing the problems but if I had known about it then I wouldn't have chosen coaching at all, I don't have any issues with the subjects I chose for me as I do I want know and learn them but not this way with issues where even the teachers are not supportive
Ans: Assess the Value: Reflect on whether the coaching sessions are enhancing your understanding of subjects or if they're contributing to confusion and backlogs. If the latter is true, it may be worth reconsidering your enrollment.

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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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