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Relationships Expert, Mind Coach - Answered on Feb 27, 2023

Anu Krishna is a mind coach and relationship expert.
The co-founder of Unfear Changemakers LLP, she has received her neuro linguistic programming training from National Federation of NeuroLinguistic Programming, USA, and her energy work specialisation from the Institute for Inner Studies, Manila.
She is an executive member of the Indian Association of Adolescent Health.... more
NVERMA Question by NVERMA on Feb 13, 2023Hindi
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Relationship

My wife has schizophernia and mood disorder, married in 2008 we dont know about this and in laws didnt tell us too. I have 2 children 12 and 5. She is sitting all day in room and doing nothing. Eating in odd hours no hygeine My mother looking after the kids. Socially we cannot go anywhere as 1 person need to look after her. We are ging her medicine for last 12 years but nothing happenin What should i do, i am working in private sector and worried about kids

Ans: Dear Verma,
I assume that she has been clinically diagnosed as having schizophrenia. And if yes, it entails a lot of lifestyle changes for the family member/s. I have seen close family friends go through a lot of adjustments when one of their own has been clinically diagnosed. Here is a list that might help you get a grip of the situation:
1. Educate yourself completely on the condition, so you approach the situation not out of worry but with care and caution. You can safely rely on books available on this rather than search the Internet
2. Sit the family down (includes your parents and her parents and siblings if any). Appraise them of the diagnosis, educating them on what you already know
3. Bringing yourself to the understanding that life maybe a bit different in your home in terms of managing your spouse, but with the right care and love, this isn't impossible
4. Talk to your children separately and tell them that no matter what, they are always loved by you and their Mother
5. Involve the families not to come and mope around cursing their luck, but to be of help and support to you and the children
6. Make sure that the medications prescribed by the doctor are been regularly taken by your wife
7. Accept the fact that you may not always be able to take her into social events and gatherings. There is nothing to be ashamed of.
If anyone asks you, just tell them. Own the truth, it will shut many mouths. After all, you are her biggest support.
Lastly and most importantly, take care of yourself as well. Most often caregivers forget that they exist. Create a strong circle of friends and meet up as often as you can. Develop a new hobby that can help de-stress and calm you to deal with what's at hand.

It may seem like a lot, but I am sure it will give you a start point to taking charge rather than staying muddled.

Best wishes!

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Tax Expert - Answered on Nov 23, 2024

Asked by Anonymous - May 11, 2024Hindi
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Money
Can you please suggest on capital gains as per Indian taxation laws arising in the below two queries : 1) property purchased with joint ownership, me and my wife’s name in 2015 at a cost of 64,80,000, housing improvements done for the cost of 1000000 and brokerages of 200000 paid and sold the same property at 10000000 in Dec 2023? 2) 87% of the proceeds got from the deal i.e 8700000, have been reinvested to pay 25% amount in purchasing another joint ownership property in Dec 2023, 3) I have invested in another under construction property in Nov 2023 by taking housing loan, which is on me and my wife’s name worth 1.4 cr, here the primary applicant is me only while wife is just made a Co applicant in the builder buyer agreement and also on the housing loan . So what are the LTCG tax liabilities arising from the above 3 scenarios for FY 2023-2024 and FY 2024-2025. I intend to sale off the property acquired in (2) by Dec 2024 and use that proceeds to close the housing loan for the property acquired in (3), will this sale of property be inviting any tax liabilities if the complete proceeds received from the sale of the property in (2) would be utilised to close the housing loan taken in Nov 2023 for the property in (3) ? Since in FY 23-24, I would be claiming the LTCG from the sale proceeds of 1) invested in the purchase of property in 2), and I intend to sale off this property in Dec 2024, will the LTCG claim be forfeited on the property sale in (1), should I hold this property at least for further 1 year so that sale of this property in 2) will not invite STCG?
Ans: (A). Let's first talk about F/Y 2023-24 :
You jointly sold a Property during the year for Rs.76.80 lakhs (64.80+10.00+2.00), & sold the same for Rs.100.00 lakhs.
You have jointly also purchased Property No.3 (I suppose it is Residential only), for Rs.140.00 lakhs.
You should avail exemption u/s-54 & file your ITR accordingly. Please disclose all details about sale & purchase in your ITR.
02. Now coming to the F/Y 2024-25 :
You intend to Sell Property No.2, which was acquired in 2023-24. Any Gain on Sale of it would be Short Term capital Gains & taxed accordingly.
Alternatively, you may hold this sale of property no.2 (for 2 years from its purchase) & avoid STCG
You are free to utilize the sale proceeds in a way you like, including paying off your housing Loan.
Please note to avail exemption u/s 54 only from investment in property no.3 & not 2.
Most welcome for any further clarifications. Thanks.

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