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Mihir

Mihir Tanna  |1090 Answers  |Ask -

Tax Expert - Answered on Jan 03, 2025

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
NARENDRA Question by NARENDRA on Dec 20, 2024
Money

I have Long Term Capital Loss as on 23/07/2024 of Rs. 2462540 on sale of other assets. Can this be set off against future sale of assets

Ans: Yes, long term capital loss can be set off against long term capital gain if earned in the next 8 years
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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Ramalingam

Ramalingam Kalirajan  |10881 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 30, 2024

Asked by Anonymous - Jul 29, 2024Hindi
Listen
Money
I had purchased a flat at Chennai for 29 lakhs rupees in 2009, through a Bank loan and I have paid around 15 lakhs for the interest component additional I spent around 3 lakh rupees for the interior work (but I don't have any bills now). I sold this property on 24th July 2024 (just a day after the budget) for the same price i.e 29 lakh rupees. Could you please respond to my below queries: 1. Can I book a long term capital loss if yes how much? 2. Can I use the indexation option for this loss 3. How to book a long term capital loss and what documents are required?
Ans: You bought a flat in Chennai for Rs. 29 lakhs in 2009. You sold it for the same price in 2024. This scenario involves calculating the long-term capital loss.

Calculating Long Term Capital Loss
Original Purchase Cost:

You bought the flat for Rs. 29 lakhs in 2009.

Additional Costs:

You paid Rs. 15 lakhs in interest and Rs. 3 lakhs for interiors. However, without bills, it’s tough to claim the interior costs. Interest paid on a home loan is also not considered part of the cost for capital gains purposes.

Sale Price:

You sold the property for Rs. 29 lakhs in 2024.

Indexed Cost of Acquisition:

Indexation helps to adjust the purchase cost to account for inflation. This reduces your capital gains.

Indexed Cost Calculation:
The Cost Inflation Index (CII) for 2009-10 is 148, and for 2023-24, it is 348.

Indexed Cost of Acquisition = Purchase Price * (CII of Sale Year / CII of Purchase Year)

Indexed Cost of Acquisition = 29,00,000 * (348 / 148) = Rs. 68,14,865.54

Long Term Capital Loss
Selling Price: Rs. 29,00,000

Indexed Purchase Price: Rs. 68,14,865.54

Long Term Capital Loss = Selling Price - Indexed Purchase Price
= Rs. 29,00,000 - Rs. 68,14,865.54
= Rs. -39,14,865.54

You have a long-term capital loss of Rs. 39,14,865.54.

Using Indexation Option
You can use indexation to adjust the purchase cost for inflation. This helps to accurately reflect the real value.

Booking Long Term Capital Loss
To book the long-term capital loss, follow these steps:

Document the Sale:

Keep the sale deed and bank statements showing the sale proceeds.

Calculate Indexed Cost:

Use the Cost Inflation Index for the purchase and sale year.

File Income Tax Return:

Declare the long-term capital loss in your ITR. You can carry forward this loss for up to 8 years to set off against future capital gains.

Documents Required
Purchase Deed:

Document from 2009 showing the original purchase price.

Sale Deed:

Document from 2024 showing the sale price.

Bank Statements:

Proof of receipt of sale proceeds.

Cost Inflation Index:

Values for 2009-10 and 2023-24.

Interest Proof:

Though interest isn't included in cost calculation, keep proofs for future reference.

Final Insights
You can claim a long-term capital loss of Rs. 39,14,865.54.
Use indexation to calculate this loss accurately.
Maintain proper documents to support your claim.
File the loss in your income tax return to offset future gains.
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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Nayagam P

Nayagam P P  |10854 Answers  |Ask -

Career Counsellor - Answered on Dec 14, 2025

Asked by Anonymous - Dec 12, 2025Hindi
Career
Hello, I am currently in Class 12 and preparing for JEE. I have not yet completed even 50% of the syllabus properly, but I aim to score around '110' marks. Could you suggest an effective strategy to achieve this? I know the target is relatively low, but I have category reservation, so it should be sufficient.
Ans: With category reservation (SC/ST/OBC), a score of 110 marks is absolutely achievable and realistic. Based on 2025 data, SC candidates qualified with approximately 60-65 percentile, and ST candidates with 45-55 percentile. Your target requires scoring just 37-40% marks, which is significantly lower than general category standards. This gives you a genuine advantage. Immediate Action Plan (December 2025 - January 2026): 4-5 Weeks. Week 1-2: High-Weightage Chapter Focus. Stop trying to complete the entire syllabus. Instead, focus exclusively on high-scoring chapters that carry maximum weightage: Physics (Modern Physics, Current Electricity, Work-Power-Energy, Rotation, Magnetism), Chemistry (Chemical Bonding, Thermodynamics, Coordination Compounds, Electrochemistry), and Maths (Integration, Differentiation, Vectors, 3D Geometry, Probability). These chapters alone can yield 80-100+ marks if practiced properly. Ignore topics you haven't studied yet. Week 2-3: Previous Year Questions (PYQs). Solve JEE Main PYQs from the last 10 years (2015-2025) for chapters you're studying. PYQs reveal question patterns and difficulty levels. Focus on understanding why answers are correct, not memorizing solutions. Week 3-4: Mock Tests & Error Analysis. Take 2-3 full-length mock tests weekly under timed conditions. This is crucial because mock tests build exam confidence, reveal time management weaknesses, and error analysis prevents repeated mistakes. Maintain an error notebook documenting every mistake—this becomes your revision guide. Week 4-5: Revision & Formula Consolidation. Create concise formula sheets for each subject. Spend 30 minutes daily reviewing formulas and key concepts. Avoid learning new topics entirely at this stage. Study Schedule (Daily): 7-8 Hours. Morning (5:00-7:30 AM): Physics concepts + 30 PYQs. Break (7:30-8:30 AM): Breakfast & rest. Mid-morning (8:30-11:00): Chemistry concepts + 20 PYQs. Lunch (11:00-1:00 PM): Full break. Afternoon (1:00-3:30 PM): Maths concepts + 30 PYQs. Evening (3:30-5:00 PM): Mock test or error review. Night (7:00-9:00 PM): Formula revision & weak area focus. Strategic Approach for 110 Marks: Attempt only confident questions and avoid negative marking by skipping difficult questions. Do easy questions first—in the exam, attempt all basic-level questions before attempting medium or hard ones. Focus on quality over quantity as 30 well-practiced questions beat 100 random questions. Master NCERT concepts as most JEE questions test NCERT concepts applied smartly. April 2026 Session Advantage. If January doesn't deliver desired results, April gives you a second chance with 3+ months to prepare. Use January as a practice attempt to identify weak areas, then focus intensively on those in February-March. Realistic Timeline: January 2026 target is 95-110 marks (achievable with focused 50% syllabus), while April 2026 target is 120-130 marks (with complete syllabus + experience). Your reservation benefit means you need only approximately 90-105 marks to qualify and secure admission to quality engineering colleges. Stop comparing yourself to general category cutoffs. Most Importantly: Consistency beats perfection. Study 6 focused hours daily rather than 12 distracted hours. Your 110-mark target is realistic—execute this plan with discipline. All the BEST for Your JEE 2026!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

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Dr Dipankar

Dr Dipankar Dutta  |1841 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on Dec 13, 2025

Asked by Anonymous - Dec 12, 2025
Career
Dear Sir/Madam, I am currently a 1st year UG student studying engineering in Sairam Engineering College, But there the lack of exposure and strict academics feels so rigid and I don't like it that. It's like they don't gaf about skills but just wants us to memorize things and score a good CGPA, the only skill they want is you to memorize things and pass, there's even special class for students who don't perform well in academics and it is compulsory for them to attend or else the student and his/her parents needs to face authorities who lashes out. My question is when did engineering became something that requires good academics instead of actual learning and skill set. In sairam they provides us a coding platform in which we need to gain the required points for each semester which is ridiculous cuz most of the students here just look at the solution to code instead of actual debugging. I am passionate about engineering so I want to learn and experiment things instead of just memorizing, so I actually consider dropping out and I want to give jee a try and maybe viteee , srmjeee But i heard some people say SRM may provide exposure but not that good in placements. I may not be excellent at studies but my marks are decent. So gimme some insights about SRM and recommend me other colleges/universities which are good at exposure
Ans: First — your frustration is valid

What you are experiencing at Sairam is not engineering, it is rote-based credential production.

“When did engineering become memorizing instead of learning?”

Sadly, this shift happened decades ago in most Tier-3 private colleges in India.

About “coding platforms & points” – your observation is sharp

You are absolutely right:

Mandatory coding points → students copy solutions

Copying ≠ learning

Debugging & thinking are missing

This is pseudo-skill education — it looks modern but produces shallow engineers.

The fact that you noticed this in 1st year already puts you ahead of 80% students.

Should you DROP OUT and prepare for JEE / VITEEE / SRMJEEE?

Although VIT/SRM is better than Sairam Engineering College, but you may face the same problem. You will not face this type of problem only in some top IITs, but getting seat in those IITs will be difficult.
Instead of dropping immediately, consider:

???? Strategy:

Stay enrolled (degree security)

Reduce emotional investment in college rules

Use:

GitHub

Open-source projects

Hackathons

Internships (remote)

Hardware / software self-projects

This way:

College = formality

Learning = self-driven

Risk = minimal

...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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