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Tejas Chokshi | Answer |Ask -Follow

Tax Expert - Answered on Jun 12, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more

Question by DK on Jun 12, 2023Hindi

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Hello Tejasbhai, How do I save Long term capital Gains earned out of profit from sale of shares.

Ans: You may invest in eligible start-ups or may invest in REC bonds or invest in residential property and also in NPS scheme or ELSS schemes. You can c/f the losses on shares sale for 8 years as well, in case of losses.

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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Sunil Lala | Answer |Ask -Follow

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Question by Ravindra - Feb 16, 2023Hindi

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The sell my property and got profit. I want to invest this profit in Long Term Capital Gain Bonds for 5 years. ( As per IT rules, it should be invested within 6 months from date of sell) Is it necessary to keep this profit in separate account in bank (Long term capital gain account) OR to keep it in normal saving a/c.?

Ans: It can be kept in your savings account

Mihir Tanna |1063 Answers |Ask -Follow

Tax Expert - Answered on Jul 21, 2023

Question by Sheraz - Jul 20, 2023Hindi

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Hi Mihir, I have a long term capital gains from US stocks (RSU) sold on the event of company being sold, the sale happened in september 2022 and money is still in foreign etrade account, If I get money now in my Indian SB account, when is this capital gain tax to be paid and how can I save it.

Ans: Tax on gain arises on transfer of capital asset being shares is taxable in the year in which shares are transferred.

Capital gain tax can be saved by investing consideration in acquiring house property provided you don't have more than 1 house property on the date of transfer.

Samkit Maniar | Answer |Ask -Follow

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Question by Vp - Feb 17, 2024Hindi

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Sir, I have purchased shares some 15-20 years back, they have been demated earlier. I dont know(remember) the purchased price and date of purchase. If i sell the shares, how can i show the long term capital gain tax in I/TAX return?

Ans: It will difficult to calculate the capital gains if the purchase price is not available. Do not sell everything in the same financial year then you may be exempt and capital gains may be below 1 lacs. Again everything is on assumption.

Please take your CAs advice before moving ahead.

Sunil Lala | Answer |Ask -Follow

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Question by Anand - Jun 05, 2024Hindi

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Dear sir i had purchased a commercial property in 2010 for 9 lakhs and now selling it for 60 lakhs how can i save capital gain occured on it? Even ready to invest.

Ans: You have to first calculate the capital gains after indexation and than you can either pay tax or invest in capital gain deposits.
Sunil Lala, CFP
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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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