Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

T S Khurana |477 Answers |Ask -Follow

Tax Expert - Answered on Apr 29, 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

Question by rajendra on Apr 22, 2025

Money

I purchased a flat in Pune @ 42 Lakhs and selling the same @ 31 Lakhs. Can I claim any Tax benefit on the loss incurred Rajan

Ans: 01. If this is a LTC Loss, then it can be adjusted against LTCG (if any).
02. If it is STC Loss, it can be adjusted with STCG/LTCG, if any.
03. If there is no LTCG or STCG during the year, this loss can be carried forward, for any adjustments against these heads in future up to 8 years.
04. Please note that ITR Filing in time is mandatory for carry forward of loss.
Most welcome for any further clarifications. 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.

MoneyReply

You may like to see similar questions and answers below

Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Jul 28, 2023

Question by RATAN - Jul 28, 2023Hindi

Money

I have some queries regarding tax on sale of my property which I need to show in my Income Tax return in FY-2023-24. I had purchased a flat in Kolkata at a total cost of 8.50 lacs [including registration cost] and registration was done in April, 2004. I had sold the said flat in May,2023 at Rs.31 lacs. My queries are :- 1. Do I need to pay Capital Gain tax on the sale of this flat ? 2. How much tax do I need to pay ? 3. How to show this capital gain income and tax in my Income Tax retirn next year ? Please advise. Regards, Ratan K. Saha

Ans: You need to understand the following things about taxation of your flat:-
1. You have earned a profit (called capital gains in this context) on the sale of your house. So tax is due.
2. However, tax will not simply be 31L – 8.5L. The Govt gives you an advantage of inflation over the years which increases your purchase cost through a process called ‘Indexation’, thus decreasing your tax. Please google and read up on it, or contact a good CA or a financial advisor.
3. You also get credit for registration and stamp duty charges, brokerages paid as also any improvements done in the house of a permanent nature.
4. Please read up on Income Tax Section 54 which also gives out how you can save tax on your final capital gains arrived at.
5. The entire calculations and sale/purchase details have to be shown in the ITR. Most probably you will be filling ITR-2 for this next year but please ascertain the same when you are about to file the tax since rules keep changing.

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Nov 30, 2023

Question by Mahesh - Nov 23, 2023Hindi

Money

i have sold my flat for white amount of 25 lakhs in Hyderabad the flat before 7 trs purchased for 13 lakhs i am not into tax zone and bout submitted ITR since 10 yrs can i avoid tax on capital gains

Ans: To claim tax exemption from capital gain earned during the year from transfer of residential property, you have to invest gain amount in new house property within 3 years (if you are planning to construct new property) OR within a period of one year before or two years after the date of transfer of old house, you should acquire another residential house.

Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on Jun 17, 2024

Question by Masoom - Jun 14, 2024Hindi

Money

Dear Sir I have received 4 flats from Developer in exchange of giving our house for redevelopment. Now I want to sell one of my flat which according to deal will 51 lakhs. The purchaser is only able to give me 6 lakhs in cash & rest 45 lakhs he will arrange in loan from bank. hence kindly advise me will the amount I receive be taxable. Also note as we have received my flats against redevelopment there is no valuation mentioned on Registration papers. Kindly advise will I have to pay tax on 45 lakhs

Ans: The cost of your house prior to redevelopment will be split in the proportion that you have received 4 flats and thereafter cost will be arrived and then indexation will be applicable accordingly which will inflate your costs. Will require the details of when the flat was bought and at what rate to answer in detail.

Please reach out to your CA as well before moving ahead.

Mahesh Padmanabhan |124 Answers |Ask -Follow

Tax Expert - Answered on Aug 16, 2024

Asked by Anonymous - Aug 13, 2024Hindi

Money

I purchased flat in Pune in Jan 2005 at 12 lakh. I sold flat on June 2024 at 61 lakh. What is my capital tax gain. Whether I can adjust my capital gain losses which is carrying forward from 2021-22 of about 23 Lakhs.

Ans: Hi
The approximate Long Term Capital Gain would be about Rs. 22.45 Lakh. Subject to all conditions of carry forward of losses being met, the loss of Rs. 23 Lakh brought forward could be set off against the long term capital gain

Latest Questions

Nayagam P P |5090 Answers |Ask -Follow

Career Counsellor - Answered on May 25, 2025

Asked by Anonymous - May 25, 2025

Career

Please suggest what to choose Ece, eee at MIT Bangalore or CSE at manipal university jaipur. I have no branch and location preference. Only requirement is good academic environment and high paying job.

Ans: Between ECE or EEE at MIT Bangalore and CSE at Manipal University Jaipur, CSE at Manipal Jaipur is generally the better option for a strong academic environment and career prospects, especially in the tech sector. The CSE program at Manipal Jaipur is well-regarded, with a modern curriculum, experienced faculty, and good placement records, attracting top recruiters and offering diverse opportunities in IT and related fields. However, it’s important to note that high-paying jobs and strong return on investment (ROI) ultimately depend on the student’s skills, continuous learning, internships, and proactive engagement with industry trends. Regardless of the institute or branch, students who actively build their profiles, upgrade their skills, and participate in projects and internships are more likely to secure top placements. Thus, while Manipal Jaipur CSE offers a solid platform, personal effort and skill development are key to maximizing outcomes. All the best for your admission and a bright future!

Follow RediffGURUS to Know more on 'Careers | Health | Money | Relationships'

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

Hello Sir, My daughter has completed HSC in 2024 and she is repeater for NEET. I am exploring other options. What are the main subjects for B.Sc for PCB student. what are the options other than B.Sc.

Ans: Main Subjects in B.Sc (for PCB background):
Biology (Zoology, Botany, Microbiology)

Chemistry

Physics (sometimes optional)

Biochemistry

Genetics

Environmental Science

Other options besides B.Sc:
B.Pharm (Bachelor of Pharmacy) – if interested in pharmaceuticals.

BPT (Bachelor of Physiotherapy) – if interested in physiotherapy.

BMLT (Bachelor in Medical Laboratory Technology)

BASLP (Bachelor of Audiology and Speech-Language Pathology)

B.Sc Nursing

Bachelor in Biotechnology

Bachelor in Nutrition and Dietetics

Bachelor in Forensic Science

B.Sc in Psychology

Professional courses to consider later:
Pharmacy, Physiotherapy, Nursing, Biotechnology, Genetic Counseling, Biomedical Sciences

Nayagam P P |5090 Answers |Ask -Follow

Career Counsellor - Answered on May 25, 2025

Asked by Anonymous - May 25, 2025

Career

Sir my son scored 91.67%in PCM and 238525 rank in JEE Mains. We live in Chandigarh what and where are the chances to get CSE. Though Electrical branch has already been offered by TIET

Ans: With a JEE Main rank of 2,38,525 and 91.67% in PCM, your son cannot get CSE in NITs, IIITs, or GFTIs, as CSE cutoffs in these institutes are much higher, typically closing within the top 20,000–40,000 ranks. In Chandigarh, the best chances for CSE are in private universities like Chandigarh University, Chitkara University, or possibly UIET if eligible under state quota. Since he has already been offered Electrical Engineering at TIET (Thapar Institute), this is a strong option due to the institute’s reputation and solid placement record, often surpassing that of many private colleges for CSE. If CSE is the only desired branch, private colleges are the route, but for long-term prospects, TIET Electrical is highly advisable. Consider career interests, college reputation, and placement trends before making a final decision. All the best for your son's admission and a bright future!

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

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

Sir, iam akarsh kesthur my jee rank is 47086 i belong to sc category in state board I got 524out of 600 awaiting kcet result suggest good engineering college in Bangalore for E&C branch

Ans: RVCE > PES > BMSCE > DSCE > NHCE

Nayagam P P |5090 Answers |Ask -Follow

Career Counsellor - Answered on May 25, 2025

Asked by Anonymous - May 25, 2025

Career

Sir I've got 66% in my 12th boards and 61 percentile in jee mains what could be the college options cse for me?

Ans: With 66% in your 12th boards and 61 percentile in JEE Main, you are not eligible for CSE in NITs, IIITs, or GFTIs, as these require higher percentiles and at least 75% in boards for General/OBC candidates. However, you can still pursue CSE in many private engineering colleges such as SRM, VIT (via their own entrance), Amity, LPU, and others that accept lower scores. Additionally, explore state counseling processes, as some state colleges have more flexible cutoffs. If you are open to other branches, more options will be available in private or state colleges. All the best for your admission and a bright future!

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

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

Which is better, CSE in SRM Kattankulathur or VIT Bhopal or Amrita Coimbatore or Manipal Jaipur? Please guide rankwise.

Ans: SRM Kattankulathur

Amrita Coimbatore

Manipal Jaipur

VIT Bhopal

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

Hello sir!...my son got 97.1 percentile in jee mains...crl rank 43k..general category...also he secured 4000 rank in viteee and 98% in cbse boards...home state delhi...can you tell some colleges which can justify his rank?

Ans: NITs with lower cutoff:

NIT Nagaland, NIT Meghalaya, NIT Arunachal Pradesh (ECE/EEE/other branches)

These NITs usually have lower cutoffs, mostly outside home state reservation.

IIITs with moderate cutoff:

IIIT Hyderabad is tough for this rank but IIIT Nagpur, IIIT Surat, IIIT Ranchi, IIIT Kota could be options in some branches except core CSE.

Other Government or reputed colleges:

DTU (Delhi Technological University) ECE or Electrical branches may be possible through state quota or other means, but CSE will be tough.

NSIT, IGDTUW (if eligible through state quotas)

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

I have a 1 lakh 90 thousand rank in viteee and 40 percentile in jee mains along with 88% in 12th boards Can I get a standardised gov college also I have category benefit with girl quota will it help me to het a decent college? I dont think I am tht of a person who is capable of IIT but I really love coding and want to follow a course in it.

Ans: Participate in JoSAA + CSAB with all eligible choices.

Apply to state counselling with your category and girl quota.

Keep private universities as backups, especially ones with good CS faculty and flexible electives.

Nayagam P P |5090 Answers |Ask -Follow

Career Counsellor - Answered on May 25, 2025

Asked by Anonymous - May 25, 2025

Career

Sir I have cracked jee mains with 97th percentile on April session but I didn't gave jee advanced and in cbse boards class 12 igot 59.6 in total aggregate with pcb and an RT in chemistry So what to do now??....I am confused

Ans: With a 97th percentile in JEE Main but only 59.6% in CBSE Class 12 (PCB) and an RT (compartment) in Chemistry, you are currently not eligible for admission to NITs, IIITs, GFTIs, or IITs. Both JEE Advanced and JoSAA counseling require candidates to have passed Class 12 with at least 75% (General/OBC) or be in the top 20 percentile, and to have cleared all subjects. Your immediate priority should be to clear your Chemistry compartment exam and obtain a valid Class 12 pass certificate. If you can improve your aggregate or reach the top 20 percentile after the compartment or improvement exams, you may become eligible for JEE Main and Advanced admissions next year. Meanwhile, consider private universities or state-level counseling with more flexible eligibility criteria. Focus on clearing your compartment and improving your scores to keep your engineering admission options open. All the best for your admission and a bright future!

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

Dr Dipankar Dutta |1428 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

Career

My daughter got CSE IN SRM RAMAPURAM AND VIT BHOPAL.WHICH BETTER

Ans: VIT Bhopal

See more questions »

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.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x