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Mihir

Mihir Tanna  |851 Answers  |Ask -

Tax Expert - Answered on May 28, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Asked by Anonymous - Feb 27, 2024Hindi
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Hi , My In-laws sold their home for 1 cr inbangalore in 2024. they had bought land in 2002 for 1.5 lakhs and built home in 2008 for 25 lakhs. how much tax they need to pay for the captital gain or which bounds are good for investing to avoid the tax. they are 63 yrs old.

Ans: Capital gain amount is derived by deducting indexed cost from sale consideration.

Assuming land is acquired in FY 2002-03 in 1.5 lacs, indexed cost will be Rs.497143 and Assuming property is constructed in FY 2008-09 in 25 lacs, indexed cost will be Rs.6350365. Total will be 6847508

accordingly there will capital gain will be Rs.31,52,492 taxable @20%.

You can calculate the indexed cost from the income tax calculator https://incometaxindia.gov.in/Pages/tools/indexed-cost-of-acquisition-or-improvement.aspx

For bonds please check with bank
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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Relationships Expert, Mind Coach - Answered on Jun 26, 2024

Asked by Anonymous - Jun 21, 2024Hindi
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I got married in 2008. Our son was born in 2013. My wife was doing PhD at that time and we both took good care of him as we were staying in an academic campus. Upon completion, my wife moved away from our place with her job in 2018. Initial one year, everything was fine. I used to visit them once in a month as the place was far away. Later in 2019, she moved to a better job location with our son. This place was also far from my workplace. Due to some reasons, she started avoiding me and I could hardly meet them especially my son. I could talk to my son only once/twice every month and see him on average of every 4 months. She does not allow me talk to him over video call as well. My parents who had a great memory with their grandson also cannot talk to him, except after several persuasions by me, she visits my paternal home once or twice in a year. She takes our son to my parents house for an hour and never allows to stay with them. This is happening for the last 5 years. I am clueless as any movement to court might lead us filing a divorce, which will grossly hurt my parents. Sometimes I feel that I should wait for my son until he becomes 18 (he is 11 now) and see him once he goes out of his mom's house. Requesting for your suggestion.
Ans: Dear Anonymous,
I truly believe that distance can drive a huge gap between two people in a relationship. Long distance relationships (LDRs) are not for everyone and if someone is into something like this, they would have or must have an honest chat about it.
Not being able to be in the company of one another, not being able to share their day with the other, not being able to communicate as often as they want can lead them to become their own person and highly independent not really missing their partner. It can also lead them to find other pair/pairs of ears almost replacing their partner at that moment. Repeating this over time can lead to romantic associations outside of the relationship as well.

Now, what could have caused your wife to take a step to be isolated from you, only you will know...and what has made you wait for 5 years to actually realize that something must be done about this?

Anyway, talk to your wife...I mean, how long can she avoid you? Meet her at a common place, like at your parents' place so that it does not flare up into a big thing. Take the opportunity to try and win your family back. Maybe it was a simple misunderstanding that caused all of this. Only when you try to find out, will you know, yeah?

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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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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