Selling Gifted Property: How to Calculate LTCG and Save Tax?

I have purchased digital hearing aid costing Rs.91,500. I am a senior citizen having pension income. Is there any income tax relief available? Under what section?

Hello Sir - I have taken a HDFC Unit Linked pension plan in 2008 and the fund value is approx. 49 lakhs. The policy matures in 2030 and allows for commutation of 1/3rd of fund value (with mandatory annuity for balance 67%). My HDFC Life Relationship manager is suggesting that he will transfer the proceeds of this fund to a new HDFC Smart life pension plan (via surrender of old policy and immediate reinvestment as single premium in the new policy) for a term of 5 years. At the vesting date, I will be allowed to remove 60% of the fund value as tax free commuted pension and will need to take annuity only for remaining 40% of fund value. This is beneficial for me (since tax free commutation under new pension plan is 60% as per new IRDAI rules instead of current 33%). In such a case, will the surrender of old policy and immediate reinvestment into new smart pension plan be a taxable transaction in India? I have claimed 80CCC benefits for part of premium paid in the past. HDFC Life has informed that the surrender and immediate reinvestment would not be taxable as I am not actually receiving any amount (the amount is fully being reinvested in the new pension plan). Is this advice by HDFC correct? Thanks for the advice.

I purchased a flat in 2018 and sold it in 2025. Flat was purchased on loan and was jointly owned by me and my wife. There was no ownership share declared in the sale deed. Downpayment was done from my account and loan EMIs also paid from my account. When selling the flat in 2025, should both me and my wife both split the sale proceeds equally and pay capital gains tax accordingly? Or should I show all sale proceeds to myself(because all payments for purchase happened from my account or from loan account which was repaid from my account) and all capital gain to my PAN only? In this case how would the TDS/26QB work?

Hi ,I'm a male and am in long distance relationships, we use to communicate with each other very well and unless up to Wednesday when my girlfriend number certainly gone offline, call is not available, and also on WhatsApp is last seen on Wednesday. On that Wednesday we talked and chat she was going to registered an account on the bank then after the phone is off upto now what could be the problem.

Sir I am working as a chief manager in PSB and 41 yrs old. I am basically Agri graduate and fed up with transfers ( Within and outside state) recently faced heart problem. At present completed 16 years and minimum 20 yrs required for at least 1/3 pension eligibility. Now, Planning to shift job from banking to hightech agriculture.

My parents purchased a (home) property im 2022-23. While it is jointly owned by my father and mother, majority (>90%) funding was done by my father. He has included the entire property transaction in his ITR filed for that particular year. However, my mother has received an intimation mail from tax department now stating the entire amount of the said flat and asking her to either file revised return (with penalties) or state reason for not including it in ITR of that year. What would you advise please.

Can I claim tax deduction u/s 80DDB for self(age 59y)+one dependent daughter(age 25y) and for my mother (age 82y)? What will be total deduction allowed in this situation?

I am45 years old now after taking vrs can I invest in post office senior citizen scheme

I am retired and queries related to capital gain tax. I have purchased a land 1250 sq ft in 2001 and thereon a residential House was constructed in 2002 -2003 and total expenses come around 28 lacs for which I gave no receipts because at that time everything was paid in cash. I have not engaged any contractor. Everything was arranged by me. I have raised a loan 6.55 lakh while other amount I borrowed from friends and relatives and family members. Later on there was an improvement for a sum of RS 1.50 lakh in 2005 for which I have taken loan. I sold this house in January 2025 for RS.1.23 crore. I shall be grateful if you can inform me my capital gain liability The sold property was in Lucknow. Thank you Madan Lal Agarwal