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Ans: ITR 2

Ans: Managing timely meals, particularly early dinner by 6/6.30 pm, avoid spicy food particularly red chilly spice

Ans: Yes please

Ans: The question seems incomplete

Ans: There is no tax on transfer of personal asset.

Ans: Your decision to gift the proceeds from selling your house to your son reflects a heartfelt gesture of support and love. As you navigate the tax implications, it's essential to consider the timing and nature of the transaction.

Regarding your first question, your son won't be liable to pay income tax on the gifted amount until he utilizes it, typically in September 2025. This postpones the tax liability until the funds are actually put to use.

Exploring alternative options, such as investing in Long Term Capital Gains (LTCG) or NHAI funds, could potentially offer tax benefits. However, it's crucial to assess the tax implications and investment suitability carefully. While these avenues may provide tax advantages, it's essential to evaluate their risk-return profile and alignment with your financial goals.

Consulting a Certified Financial Planner can provide clarity on the tax implications and help you make informed decisions aligned with your financial objectives. Remember, every financial choice carries its own set of considerations, and seeking professional guidance can illuminate the path towards wise financial stewardship.

Ans: Hello, purchase the new house within 1 year before the date of land sale or within 2 years after the sale.
In case of tax saving bonds , the time duration is within 6 months of sale of property
My views on investing in a property to rent out or investing in bonds :
Always pay the tax and invest in a diversified portfolio of mutual funds in order to generate higher returns and to have full liquidity available at all times.

Please note that these suggestions are based on your stated goals and the information you provided. It is always a good idea to consult with a financial advisor in person to better understand your risk tolerance, time horizon, and specific financial goals.

Ans: 1. Income from capital gain is required to be offered to tax in ITR. Subject to certain conditions, it should be offered to tax in which possession is given to buyer.


2. Exemption will be available only if you invest in specified bonds and not by investing in FD

Ans: Brokerage Charges: Yes, you can deduct the brokerage charges of Rs 40,000 from the total sale proceeds before calculating the capital gains tax. The brokerage charges incurred in selling the property are considered as a legitimate expense and can be deducted from the sale proceeds.

Capital Gain Index: To calculate the indexed cost of acquisition for long-term capital gains tax, you need to use the Cost Inflation Index (CII) issued by the Income Tax Department. The formula to calculate indexed cost of acquisition is: Indexed Cost of Acquisition = Cost of Acquisition x (CII of the year of sale / CII of the year of acquisition). You can find the CII values for different financial years on the Income Tax Department's website.

Expenditure on Maintenance and Additions: Unfortunately, you cannot add expenditure spent towards maintenance, additions, etc., over the years without proper proof for tax deduction purposes. The Income Tax Department requires proper documentation and proof of expenses to claim deductions. Without proper documentation, these expenses cannot be considered for tax deduction.

It's always advisable to consult with a tax advisor or chartered accountant for accurate guidance tailored to your specific situation, as tax laws and regulations may vary. They can provide personalized advice and help you maximize tax benefits while ensuring compliance with tax laws.

Ans: Car is personal asset. Gain/loss on transfer of car being personal asset is not subject to Income Tax.

Ans: Hello K,
This kind of pain could be related to muscle knots on left side of the neck. It is called as trigger points in the sternocleidomastoid or scalene muscle. If you can first visit a physiotherapist who does techniques like dry needling, cupping, myofascial release it may help you a lot.
We have had patients with similar issues and withing 5-6 sessions they are completely fine now.
Please read about sternocleidomastoid/scalene/trapezius trigger points and you will understand better.
All the best!

Ans: Please get an USG upper abdomen to rule out Gall bladder problem particularly stones. Also avoid spicy food. Have timely meals, definitely dinner before 6/6.30 pm
Avoid heavy animal protein at dinner meal

Ans: Options to save tax on sale of house property are limited, as rightly highlighted by you. Further, the reinvestment limit is restricted to INR 10 crs.

Unfortunately, gifting the money to your son will not help.

Ans: Tax on capital gain arises on transfer of house property will be applicable as per the prescribed conditions and required to be shown in Income tax return. However, amount transferred to son as gift is not an income. Thus, not liable to tax.