My friend has booked one apartment in year 2012 and the construction is still going on. It will be completed by January 2018. He has not registered this apartment and will be doing the same in January 2018. He has taken home loan for this apartment in 2011 itself and now he is planning to sell one ground (plot) now and pay this amount for home loan. Will the capital gain tax exempted for this sale amount or will he have to pay the tax? If he is required to pay the tax, are there any other options like bonds to invest and avoid the tax?
I am NRI. I have sold GOLD ETF. TDS was deducted at 23.64 % by PMS account. For GOLD ETF what is tax rate? Is it 20% with indexation? In my case TDS was deducted without consideration of indexation. How can I get refund for it?
I got a property (our dwelling house at my home-town) from my father in the year 2007. Now I want to transfer it again to my father through a Gift-deed and subsequently my father will transfer it to one of my Uncles through a Gift-deed with in 7 days after receiving it from me. Now I want to ask you whether this whole procedure attracts any sort of Income-Tax or not? Does Capital Gains Tax is applicable here in both the transfers? Also please tell if any tax accrues in case my father and my uncles transfer a different property to me through Gift-deed along with the above transfer at the same moment?
For Capital Gains arising from selling Foreign stocks (purchased through ESPP) – (1) Which column of ITR-2 should be used? (2) I assume the purchase price should be the market price at the time of purchase (and not the actual price which is discounted) because perquisite tax is already paid corresponding to the market price. Is this assumption right? If no, then what should be the purchase price? (3) The market price considered for perquisite used “x” conversion ratio from, say USD to INR. But at time of selling, “y” ratio was considered for to total sale amount. Should we pay tax on additional gain due to change in currency conversion rate?
My employer has shown the perquisite income from stocks (RSU) as part of my Form16. This covers all the vested stocks for the year and is getting taxed along with my regular salary. I have sold some stocks during this year, do I need to show that as part of any capital gains since the employer has already cut the tax as perquisite
If I have made a capital gain of Rs one lakh in selling a property,which columns are to be filled in ITR -2 form and how much to be shown?? Where in the form 20 % tax is to be shown? -I have Gross total income on Pension,so Is the 20 % tax is to be added to:Gross Total income or to the final tax calculated on pension.Lets say P is the Tax liability calculated on pension on a gross pension of “G”.Then how and where the form is to be filled up for capital gain Tax????
I am a salaried professional and i have gains from shares trading which i bought in January 2016 and sold shares on April 2017.if i am correct it falls on Long term capital gains (kindly confirm). If so, how that gain amount of Rs 5000 will be taxed? If not in capital gains how it will be taxed. If i do not need or need to pay Tax for that specific income do i need to mention that in ITR?
My mother has gifted property in 1982. Property is in dilapidated condition & I intend to sell the prop for Rs 15 lac or so, What would be Capital gain on said property. Alternatively I can show prop as gift to my elder brother will it be taxable
He makes some money in short term and speculative trading, but looses money in Futures and Options.
Charges incurred during the process:
a) Brokerage on sale and purchase.
b) Service Tax on brokerage.
d) Stamp Duty
e) Other charges( Sebi turnover charges etc)
f) Demat Charges.
g) Interest on margin trading.
My question are:
1)which items from the above can be deducted from the trading income. I understand STT is not deductable, what about others. Specially the interest paid is a huge amount which turns all the trades into a loss.
2) Can the F/Q loss be carried forward? If not, can it be crossed with some other income?
Please provide relevant sections if you know them.
In addition to my salary income i have sold my agriculture lands of 4 acres which amounts to 40 lakhs INR, should i pay any additional taxes for this sale or TDS deducted from employeer is sufficient to proceed filing?
Hello, I just wanted to know I have purchased bonds in foreign currency when I was in USA. Now I am a resident Indian. I have sold that Bond in 16-17 but I have not repatriate foreign currency in India. I just want to know whether I will liable for Capital Gain. I have purchased that Bonds three years back.I also inform you that from selling amt I have also reinvested some amount in Bonds. For Eg If I have sold 100 US$ bonds then I have invested 90$ and remaining 10$ is net proceed but not repatriate in India. Whether these amt is liable for capital gain as fluctuation of foreign currency.
Hi, I have purchased a share of X company via delivery option (STT paid) at 10 Rupees and then sold the share X after holding for few days/ months with in the same financial year for 12 Rupees. I re invisted 12 Rupees in share of Y company delivery option(STT paid) and I still hold the share in my DMAT.Should I pay income tax on the capital gain of 2 rupees ( 12-10) even though I hold share Y which I purchased with the profit I have made from the sale of share X.
Hello, I purchased land property worth 35 Lac and in the same year I have received land property from inheritance(Fathers property) whose market worth is 50 Lac. Then both property are consider under capital gain?
I understand that LTCG can be availed for certain investments (such as equity, traded bonds etc) after completion of 12 months. Instead of completing 12 months, can LTCG be availed if the investments are sold in the next financial year. For instance, if the equity is bought in January 2017 and sold in May 2017 (next financial year), can one avail of LTCG?