We have recently sold long term property jointly owned by me & wife on 17 April 08 for 35 L worth. Property was held more than 5 years & involved LTCG of 12.2 L. Thereafter we purchased land for 13 L on 20 Jun 08 with my wife as 1st owner & self as joint....
How To Make Tax Planning For Long Term Capital Gains?
July 1, 2008 by
I am a SENIOR CITIZEN. I sold my property which is a LAND and had a Long Term Capital Gain. I could not utilized the Capital Gain Amount BUT before submitting my Income Tax Return deposited the Capital Gain Amount of 19 lakhs with the SBI under the Capital Gain Account Scheme (Fixed Deposit) for...
REC Bonds Issued. Hurry Up!
June 5, 2008 by
We want to invest interest gained on National Saving Certificates in REC or NHA bonds. Can we get benefit under Sec. 54-EC ? Babu hai Choudhari , AhmedabadI sold my plot in Dec2007 and got Long Term Capital Gain of about Rs.7.6 Lacs. Currently there is no TAX Saving Bonds Scheme available from NABARD, REC...
Can You Get Exemption U/s 54F Even If Builder Does Not Complete House Within Three Years?
May 20, 2008 by
We have sold a old land long term asset and invested for the purchase and construction of a flat in a apartment in Bangalore, with the one year of sold of asset and claimed deduction u/s 54 f of income tax act, but later the builder is not completed the possession of the apartment within...
How To Minimise Tax On Huge Gains on Property Sale?
May 7, 2008 by
I became a member of the housing society and constructed a house ib 1974. The construction cost was2 lacs. Now I desire to sell the house and am definately to mmake considerable capital gain by selling it. How much capital gain will I have to pay? Alternatively, what are the exemptions available? What is indexed...
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