Investment in IPOs could have reduced your tax!

Yes, you rightly heard , but unfortunately the scheme of giving exemption is not available for long term capital gains (LTCG) on sale of...

Whether redemption of shares by a company amounts to Capital Gains ?

Yes, as per Supreme Court judgment in case of Anarkali Sarabhai vs. CIT 224 ITR 422(SC).

Whether construction of house must be completed within 3 years for claiming exemption u/s.54...

NO. Similar issue was raised in Smt. Sashi Varma vs. CIT 224 ITR 106(MP) and the High Court decided in favour of assessee...

My father was running a proprietorship business. Now he plans to sale the whole...

Yes and No ,depending on whether there is gain or loss as per computation method prescribed under Section 50B of the I T Act.The...

Capital Gains on Shares or Mutual fund units taxable ? What you say ,...

Yes , you rightly heard . Not all long term capital gain on sale Of equity shares or units of mutual funds are tax...

Securities Transaction Cost not allowed?

Yes ,that STT (Securities Transaction Cost) is not allowed to be taken as cost of acquisition of the shares or purchase for computing capital...

Is Registration necessary for Claiming Exemption u/s 54 or 54F ?

No,the word used in the relevant provision is PURCHASE and purchase completes when one person pays full according to purchase agreement and the seller...

What will be the capital gain on sale of agriculture land?

Someone Asked on Yahoo Answer-replied by me on 26/10/06I am selling agricultural land in Haryana and reside in Delhi,the receipts i understand are tax...

Is agricultural land sale non taxable?

Yes and NO.The reason:Read the definition of the capital asset in section 2(14) of the I T Act :As per this , Capital asset...

What are the schemes availaible in India presently to save Capital Gain Taxfor sale...

Someone Asked on Yahoo Answer-Replied by ME on 12/10/06There are two section54 and 54EC under which you can save on long term capital gain...