Capital Gains

Forums Capital Gains

Question Category : Capital Gains

    • Amount credited and debited r returned after 5-6 months

      Sum of 5 lacs credited by client who was wishing to purchase my property. But after 3-4 months he canceled his wish and i ve return back that amount after 5-6 months within financial year. Is it taxable to me or credit and debit of same amount between same accounts, will be considered?. Please guide me.

      Profile photo of Shalik Asked By: Shalik 0 replies 0 helpful answers Last Updated: 1 hour, 46 minutes ago
    • Capital Gains Query on Sale of Flat of AY 2017-18

      I did income tax filing thru your company. There was a loss in Flat sale. I have following queries :- 1) In my cost I did not consider few of amounts which I spent for better maintenance of house. Amount which I spent was about two lakhs. This amount I spent on window replacement, Kitchen Work, Painting of house and Wooden Work. Please advise if I can refile my return to increase by Capital losses. Your inputs will be helpful. Thanks.

      Profile photo of Rakesh Khurana Asked By: Rakesh Khurana 0 replies 0 helpful answers Last Updated: 2 days, 9 hours ago
    • how to calculate long term capital gain


      DATE OF PURCHASE……. 04/05/2013 COA= RS 79,00,000/ -( INCLUDES STAMP DUTY OF RS 4,00,000/-)

      DATE OF SALE ……….. 04/09/2017 SALE PRICE= RS 1,05,00,000/-


      INDEX COST OF PURCHASE 272/220X79,00,000= RS.97,67,272/-



      Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 4 weeks, 1 day ago
    • Captal Gain on prooerty purchaed on Bayana ( only 10% ) paym

      Mr. A purchased a shop from B for 3,20,000/- in 2008 by giving Bayana Rs. 50000/-and took possession without Registration. In 2017, B sold this shop to MR K with written consent of A for 11.00.000/-by Registering the shop in the name of K. Thus A got Rs. 11,00,000/- on sale of shop by B with consent of A. In this case whether it is short term or long term Capital Gain and amount of capital Gain ?

      Profile photo of Ajay Kumar Mahajan Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 4 weeks, 1 day ago
    • Accrual of Tax liability while transferring property right t

      I am an owner of a property and now I want to sell it to my uncle (my father’s own brother) through a Sale-deed. Please tell whether any sort of tax (capital gain or any other) accrues from such transaction or not? Also please tell whether it is a long or short term capital gain (if it is really taxable under capital gains tax system) if I am owning this property since 2008 and now its stamp duty valuation is around 25 lacs?

      Profile photo of Sanjay Agarwal Asked By: Sanjay Agarwal 1 replies 1 helpful answers Last Updated: 1 month, 1 week ago
    • What to do if we get an income tax notice

      It looks like for AY: 14-15 and 15-16, one of my relative who happens to be a senior citizen has received an income tax notice for not clearly declaring the equity shares purchase and sales. It looks like he might have missed entries for this. What would be the next steps for him please advise.

      Profile photo of shilpa Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 1 month, 3 weeks ago
    • Which ITR form to be used for NRI for Capital Gain

      Hi, I am an NRI with taxable Indian income only from interest (Savings/FD) & equity (dividend/profit/loss). Which ITR form shall I submit (eg. ITR-1/2). I am a salaried person in Middle-East. If I want to book short term capital loss from equity this FY, which form to be used? Thanks.

      Profile photo of Gaurab Bhattacharya Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 2 months ago
    • Virtual Currency (Cryptocurrency/Bitcoin)

      In the simplest way possible, If I buy Bitcoin for $1000 and held it, Lets say it became $2000. Lets say that I sold back $1000 back to FIAT and transferred it back to my Bank. So now I have $1k in BTC and $1k in Fiat. Is the $1K I sold considered taxable?

      Profile photo of George Asked By: George 1 replies 0 helpful answers Last Updated: 3 months, 1 week ago
    • What will be the tax impact on balance amount paid as home l

      I had booked a flat in October 2012 and taken a home loan from a bank. The property is under construction till date and it will be completed by March 2019. I am paying EMI for the same. If I surrender the flat and take my money back along with home loan interest I paid from the builder and disburse my loan account, what will be tax impact on balance amount?

      Profile photo of Sushma Asked By: Sushma 1 replies 0 helpful answers Last Updated: 3 months, 2 weeks ago
    • Is capital gain tax exempted from sale of unregistered apart

      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?

      Profile photo of savita Asked By: savita 1 replies 0 helpful answers Last Updated: 5 months, 1 week ago
    • Refund indexation benifits for gold etf

      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?

      Profile photo of sanjay Asked By: sanjay 2 replies 0 helpful answers Last Updated: 7 months, 2 weeks ago
    • Whether any sort of Income Tax accrues or not?

      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?

      Profile photo of Sanjay Agarwal Asked By: Sanjay Agarwal 3 replies 1 helpful answers Last Updated: 8 months, 1 week ago
    • Short Term Capital Gains from Foreign stocks for AY 2017-18

      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?

      Profile photo of Keyur Sheth Asked By: Keyur 3 replies 1 helpful answers Last Updated: 8 months, 1 week ago
    • Perquisite income from RSU and income tax

      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

      Profile photo of Manoj Krishna Asked By: Manoj 1 replies 0 helpful answers Last Updated: 8 months, 2 weeks ago
    • Capital Gain Tax in ITR-2 for AY 2017-18

      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????

      Profile photo of LK Mishra Asked By: LK 1 replies 0 helpful answers Last Updated: 8 months, 3 weeks ago
    • Gains from share trading for salaried proffesional

      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?

      Profile photo of Sudip Asked By: Sudip 1 replies 0 helpful answers Last Updated: 9 months ago