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Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Feb 07, 2024

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more

Question by Avion on Feb 07, 2024Hindi

Money

I sold a commercial property at Rs.1.1 crore in Jan 2024. My buying price in 2017 was 93.5 lakh. After applying indexation the current valu of the property is about 1.15 crore. Can you please let me know whether I'm liable to any LTCG tax?

Ans: No, you are not liable to any LTCG tax. You actually have a net long term loss.

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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Question by Yam - Apr 27, 2023Hindi

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Dear Mihir Sir, Good after noon. I have a question for LTCG. Sir I acquired a residential plot in March 2018 for Rs. 20,00,000 and spent immediately Rs. 3,50,000 on foundation and boundary fencing. The property was held for almost 4.5 years and I sold it in December 2022 for Rs. 30,00,000. I spent the whole amount in constructing a new house. I had only one house property where I spent the whole amount. Am I liable to pay any LTCG for AY 2023-24? If yes, please tell how much am I liable to pay? Thanks.

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Sir , I have sold my residential property by executing registered sale deed on 30th June 2024 , am I entitled for indexing or not for LTCG tax calculation.

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Question by SANJAY - Jul 31, 2024Hindi

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I HAVE SOLD ONE PROPERTY IN JUNE 2024 RESULTING A PROFIT OF RS. 2.00 LACS LONG TERM CAPITAL GAIN, BEFORE NEW AMENDMENT OF LTCG TAX LAWS,. PLEASE LET ME KNOW THAT THE INDEX COST WILL BE APPLICABLE IN THAT CASE OR NOT AND WHAT % OF TAX I HAVE TO PAY I.E. 20% OR 12.5%

Ans: Hi,
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Sir , I have decided to sell my residential property by executing agreement on 29th June 2024 , still waiting for registration to complete am I entitled for indexing or not for LTCG tax calculation.

Ans: Under the proposed changes in the budget, you may opt any of the options (in case of Long Term Capital Gains), as under :
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(02). Tax Rate of 20% in case of Indexation.
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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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