Tip for anyone wanting to save tax from real estate income. Instead of buying bonds at 6 percent returns, locking the funds and dealing with the government schemes, one could quite simply put all of that in FD at around 8 percent returns or even mutual funds at 10-15% returns. This should recover the tax you paid in 1-2 years depending on the amount. You also have access to the funds at all times in case of an emergency.
Very good analysis. But I have a concern. If I am buying a new residential property by selling another one, then I have to pay GST, Under Table Charge and other many charges. So, paying tax. Now this new property will not get LTCG benefit. I feel this is a trap. It is better to pay the LTCG tax instead of investing in a new property. If someone wants to buy a property for very-long-term staying purpose, then it is ok. Otherwise ....
Can we off set short term capital losses carry forwarded from previous years with Short term Capital gains from sale of (property which was not held for) 2years
In your Excel Sheet, you have mentioned: "For Properties bought before 1 Apr 2001, enter Stamp Duty Value or Fair Market Value on 1 Apr 2001, whichever is lower". As per ITD Tweet, it is as per choice of the Tax Payer. Your feedback, please.
Earlier capital gain was calculated by indexation and that capital gain have to be re invested but now indexation option is only while paying taxes and not in calculating capital gain for reinvesting.
This video is very useful if all content in this video is true and valid. Some points are not clear: 1. Capital gains account scheme 2. Can I buy 2 plot after sale 1 property in exempt.
Please give clarity by video on Capital Gains AC CGAS Type A:(Savings ac) CGAS Type B: FD. What is the interest applicable, which banks, procedure and tips to withdraw part amounts when purchasing Residential property.
Good video, I have a few queries. 1. What is considered to be the date of purchase for under construction property, is it date of allotment or date of possession or date of registration. 2. Please advise if benefit under section 54 is taken, can a person also get benefit u/s 54F (through sale of shares) for the SAME property
Thanks for great video. I have bought house in Feb 2024. I have some MFs, which I am thinking to redeem. This is purely for Tax Harvesting purpose. SO, How IT department check if I have invested that money in house property or not? I have outstanding loan of 50L now, do I need to pre-pay it with all the proceeds I get after selling my MFs? (for example, if I get 15L after selling MFs, do I need to prepay loan by that much amount?). Please guide.
Very good analysis. Thank you!! I have however a very different question. Please help determine how capital gain tax is calculated if I sell the property now, when the residential property bought 10 years ago was not yet even given possession and followed a construction linked plan with 90% of total purchase value paid till date during first 4 years of booking . Appreciate if you can enlighten us
Now it is common in the country to bring Agriculture land in urban areas for many developmental reasons ; in that case a person has to pay capital gain tax if that person makes profit or invest in other property as per guidelines.
I have purchased a plot of non-agricultural land in 1990 by Rs.80,000. Now I have decided to sell that plot by Rs.10 lakhs. Circle rate of that plot is Rs.15 lakhs. Please calculate my actual capital gain tax figure , which I have to pay to income tax authority? Please also note that, trying my label best I couldn't find the circle rate or fair market value of that plot as on 01.04.2001. Now I want to pay the actual capital gain tax to income tax authority, so that no future problem arises. Please calculate my actual capital gain tax figure.
Sir, I have been watching your videos regularly and find them very informative and provide good clarity. Capital gains in simple language is well explained in this video. However, complications appear in case of under-construction properties where no clarity is provided in section 54. Whether date of allotment, date of possession or date of registry will be considered. Also, in such cases, how to calculate indexation. Such complications are plenty in under construction cases. I would like to request you to pls make a detailed video on cases involving under-construction flats. Regards
Please give suggestions for residential property transferred due to the demise of parents. Originally property purchased in 1994, transferred to me after demise in 2021, now I am planning to sell in December 2024. In 1994 no CII
In this case cii will be 100 from 2001 But mostly in such case you may prefer without indexation because rates have increased far beyond inflation in last 24 years in general.
Thank you so much for this information and guidance. But Sir in case of husband and wife joint residential property how can avail tax benefits. Please gude.
Thank you for the very informative video. Please help for the below: 1. 50lac of sold example that you say. Does it have to be single asset type only? Can it be combination of stocks, bond, property sold in same year? 2. Another question - Does it have to be sold all at once? Or anytime in the same year. For example, 25 lakh Rs stock sold in April 2024, 25 lakh ps some other stocks sold in July 2024? Thank you 😊
Great video. I have a query - Is exemption under Section 54F applicable on selling MFs and giving the entire amount received in MFs for Home loan advance repayment?
Kindly clear some points, 1. If I sold commercial shop. At 60 Lacs. Which I purchased in year 17- 18 at Rs. 30 Lacs. How much amount I hav to invest in bonds and which bond ( 54ec or 54f) . Thanks and regards
Hello Sir, Your videos are really helpful and very easy to understand but I have observed that most of your tax saving videos especially for salaried are explained with the high value of HRA i.e. 25% of CTC (Basic = 50% Of CTC). But majority of companies are not following New Wage policy resulting in Basic is hardly 24 to 30%. So considering that can you please design fresh video?
बड़े ही विस्तार से capital gain tax के बारे में जानकारी देने के लिए धन्यवाद। कृपया यह बताने का कष्ट करें कि मेरी बहन द्वारा 2001 में बनाए गये मकान के उनकी मृत्यु के बाद मई 2024 में मेरे नाम ट्रांसफर होने के बाद यदि मैं इस मकान को अभी बेचता हूं तो उससे होने वाली इनकम long term capital gain मानी जाएगी या short term capital gain?
Regarding section 54F - (1) Is the sale of US stocks where I have LTCG also considered or its just applicable for LTCG on Indian stocks only? (2) The residential property where I am re-investing the sale proceeds should be ready to move or under construction(if yes, any time limit)? Thanks
One question: for gains adjustment if we direct sale proceed into a plot and then build a building on top of it; the entire cost I.e. cost of plot+cost of building construction will be allowable? Or just the building construction cost?
If I sell property say NOW for say 50 lacs (2024)& reinvest it in 2 years (2026) by paying 25 lacs now in an under construction building whose final closure ( construction ) will get over in next 4 years (2030 ) ,then do i have to pay LTCGT ? The under construction property will be taking the balance money of 25 lacs in installments as per a payment schedule ( depending on the level of construction )that is spread across from 2026 to 2030 . ( The sales deed will show a sum of 50 lacs in the year 2024 )
Hi! We r planning to buy a house after 2 years. What can I do to get good return of my money now so that it helps to buy my future home. BTW I am in foreign country.
All the banks offer you capital gain account but when it comes to closing the account after reinvesting the money the bank don’t support you instead they harass you to get signatures from income tax authorities which is a tedious job … can you please tell us how to close capital gain account in bank hassle free .
Please clarify whether section 54 applicable for just constructed house/flat and not residential land? And is time period applicable for poosession or registry or bba?
Property holding period is for 24 months to qualify for LTCG, question is how this period is calculated? Is it starting from the possession date or the date reflecting in Index 2? My Index date is more than 24 months old, however got possession 2 months back. Will this be LTCG or STCG and why?
You have mentioned that the capital gains can be invested. Is there any limit. Supppse I invest Rs. 2 Crore in buying the property plus the cost of Index ed property which is equal to sale price, do I need to pay any Tax
Sir, property sale amount direct Capital gain Account mai lena hai. Ya pehle saving account mai le ke phir Capital gain account mai transfer Kar sakte hai
Can we claim Section 54 for Short term Capital gains. i have sold my property and receieved Short term capital gains .so can i use these Short term capital gains in reinvesting other residential property.kindly suggest
04 सितंबर 2009 मै, फ्लेट खरीदा था (Rs. 26,36,250) 03 जून 2024 को बेचा Rs. 64,25,000) ब्रोकरेज (Rs. 50,000) नेट सेल (Rs 63,75,000) 26/07/2024 को रजिस्ट्री हुई 1, ओल्ड रिजिम के हिसाब से... (90,938 का लॉस हैं ) 2, न्यू रिजिम के हिसाब से... (37,38,750 प्रॉफिट हैं) मुझे क्या करना चाहिए किर्पया बताये
Sir, if I booked a apartment under construction, is that also considered under 3 years or only individual house construction is considered under 3 years?
