Excellent , very Informative video. Excellent and clears lot of doubt. Please keep making finance, bank accounts, tax liabilities , Conversion of SB accounts when you move abroad how do you convert it NRO account, what happens to your Dmat account connected to that account.
In case of multiple lineal decedents of same property, What if only single owner has incurred any cost of improvement? Does that owner be able to avail the whole amt. of ICOI in his favor or it shall be divided amongst all present owners of that property?
Your video is very informative but still i have some questions. I have 3 Questions We are selling our plot this year 1.can we use this capital gain amount to repay our home loan? 2.can we buy commercial property ? 3.can we use this amount to renovate our current home?
thanks for sharing. there is one question: 1. after selling a residential property, for the captial gains offset, will sec54 allow to do a construction on an existing land owned by the same individual. As such as there is no mention of the construction to be done as a 'NEW' property as such the captial gains offset is allowed if the individual does a construction cost (equal of capital gains) within 3 years in existing property... --> is this correct intrepretation? thanks for claryfing
Hi Sir, which among the following can be included to calculate LTCG I have receipts for: 1. Stamp duty 2. Sale deed registration 3. Bank loan interest 4. Land tax paid receipts I donot have receipts for 1. Brokerage for purchase of residential plot 2. Brokerage for sale of residential plot 3. Construction of Compound wall 4. Society water connection 5. Legal expenses
Very informative videos, thanks, Quick question: shop bought in 2006 and sold in 2022, how much cost of improvement (without receipts) can i put for each year to reduce my gain?
Sold a property on my name on 3.6.2022, and have a net LTCG of Rs 31lacs. -Purchased a flat, for rs 74 lacs, jointly with my daughter's name. In oct 2022. TDS @1% was remitted on the sellers pan , ie 37 lacs each, by self and daughter. The tds is reflecting in the 26AS, of self and daughter. The extra amount for purchasing the flat, was from my retirement benefits., post my superannuation Question/ Query is: While filling my ITR 2, I need to mentionthe purchase price of the flat as Rs 37 lacs, and set off the LTCG of Rs 31 lacs. Pl clarify my doubt sir. Thanks in advance Jyothi
i have two questions - 1) Payment made towards parking space is it also considered as part of value of the apartment. 2) The purchase amount (all white) is higher than the valuation amount registered. In this case is the indexation on the purchase amount or the valuation at the time of registration.
I bought a flat in 2012 in 14lac & sold it in 2022 in 25lac. 1) Can I buy a commercial shop & save the capital gain tax amount? 2) what will be the capital tax to be paid?
Sir please clarify ,,,For how much time one can keep funds received from buyer in savings account? I mean after how much time period it is mandatory to shift these funds from savings account to CAPITAL GAINS ACCOUNT.
Inherited property plot cost 4000/- in 1956, house was built of which cost is not known received in 1986, now what would be the indexed value of the property in 2022-23. Please let me know. Thanks.
Your video is excellent and very informative. Thank you. Sir, I bought a house plot in 1995 and like to sell it now (2022-23). How is FMV calculated for 2001-02 the base year, CII being 100.
Good you tub video with excellent answers..can u help me what is the capital gains on the flat purchased in the year 1987 at Rs.3.50 lack and want to sell it at Rs.80 lack in the current year..with farmula
Very informative video. Few doubts/ questions :- 1. Property purchased by father in 1994. How to do the indexation for period prior to 2001 ? 2. Father expired in 2021 and I was nominated to take over this property by my father. As per my fathers 'will' I am to give a certain percentage of the sale proceeds to my sister ( who has since expired in 2022...... so now to her husband). My sisters husband is a foreign national and wants me to sell the house fast. On sale of the house how do I send the sale proceeds due to my sister, to her husband abroad. Does my brother in law (foreigner) have to open a bank account in India to receive my sisters share? 3. Since the house is in my name now, what are the tax implications on me in India. As part of the amount obtained from sale of the flat has to be sent abroad. I will be grateful if you can guide me on the same Regards
Thanks for all information, u r great God bless fully for u & your family members sir. I am seal house only 17 lks I am not gain any amount extra but iam invest in sbi bnk, because iam age 64 , iam not having any other source sir, if any tax problem sir.
If I own three houses on a given date, say Oct 31, 2022 and if I sell one of the houses, then is there any restrictions on claiming CG exemption on the sale ?? I hear that more then two houses are there, then the exemption is not available. Is it correct ??
Hi sir, very informative. We got capital gains of 50L by selling a plot. Can I buy a residential plot for 40L and construct a home on the plot for 10L and claim entire 50L for LTCG benefits under construction of new residential home?
I have inherited a 40 year old house property which I had given to a builder for a joint venture development wherein he offered me 25L plus a 370 sq ft flat. Could you please tell me how much tax do I need to pay towards capital gain?
I have joint agreement for three flats each for me and a builder.Plot with area of 2720 sft with a building demolished.Buider offerstwo flats of 906sft each. Third flat will be sold.He offers cash consideration with two flats. Flats will be constructed onmy own land.There is a huge difference between guideline value and market value. Claiming exemption are we go with guideline value or market value? Pl clarify Thanks
Pl clarify whether I can get capital gains exemption if I have constructed abt 500 sq ft in the first floor from out of the sale proceeds of my residential plot
Sir, I had purchased a flat for Rs 11.5 lakhs in December 2003 and have just sold it in October 2022 for Rs 60 lakhs after 18+ years. I intend to invest Rs 30 lakhs in a flat which my son and daughter in law is buying. If I add my name in the new flat, am I liable to pay capital gain tax. The present market value is about Rs 53.5 lakhs Kindly advise
Hello Sir/Madame, We received sales proceed from residential property selling. Date of transfer was in Dec 2021. But we received final proceed in March 2022. So can we invest the calculated capital gain in 54EC Bond, now?
can we get exemption for having two flats out of capital gain? sec 54 and 54 F differs.I think from AY 20+21 we have option to have two flats.kindly advice.thanks
Sir one question..suppose if a house is bought jointly by a person and wife, the wife is a homemaker then will the capital gain be applied for Both or how will it be applied?
Sir Firstly Thank you for your valuable vedios. My question is I have a plot and wish to sale. If I sold half of the plot this financial year for 50 lakhs and half of the plot for again 50 lakhs in next financial year then I will eligible to invest in 54EC bonds each financial year 50 lakhs totalling 1 crore or not. I mean total 1 crore in two financial years as property sold two times and also two registration transfers in different financial years. Please clarify.
Sir my father having 2 property in different location on 2015 we have taken housing loan jointly rs 60 lakhs and constructed property 1. My father was expaired on 2017 we both brothers planning seperate properties. My brother is taking property no. 1 for his share along with balance loan liabilities and property no. 2 for my share and paying, 35 lakhs to me for difference value of property 1&, 2 and executing the gift deed for,, 35 lakhs. Is their any tax is applicable for 35 lakhs.
Hi sir, we bought one house after sale of property and remaining amount invested in CGAS to purchase another within 2 years, but we didn't purchase the house... whether that amount is taxable in which year, when to file tax return?
Sir, my mother has a site purchased during 1965 and it is transferred to me after her death a year back. Now I wish to sell the property. Pl explain me the capital gains liability......
Sir I got capital gain of 75 lakhs after selling plot after22 years later I got residencehome This 75 lakhs onlysource for my future buiseness Iam maried 5kids Can i buy 2or 3 openplots In my range So that i can survive afterselling in few year later With this investment in plots can i save my capital gain tax Thanks
Capital Gains on Inherited Property: ruclips.net/video/Yt_cnMPO19k/видео.html
Excellent , very Informative video. Excellent and clears lot of doubt. Please keep making finance, bank accounts, tax liabilities , Conversion of SB accounts when you move abroad how do you convert it NRO account, what happens to your Dmat account connected to that account.
Thank you very much 🙏 sure I’ll make videos on those topics as well
In case of multiple lineal decedents of same property, What if only single owner has incurred any cost of improvement? Does that owner be able to avail the whole amt. of ICOI in his favor or it shall be divided amongst all present owners of that property?
Your video is very informative but still i have some questions.
I have 3 Questions
We are selling our plot this year
1.can we use this capital gain amount to repay our home loan?
2.can we buy commercial property ?
3.can we use this amount to renovate our current home?
thanks for sharing. there is one question: 1. after selling a residential property, for the captial gains offset, will sec54 allow to do a construction on an existing land owned by the same individual. As such as there is no mention of the construction to be done as a 'NEW' property as such the captial gains offset is allowed if the individual does a construction cost (equal of capital gains) within 3 years in existing property... --> is this correct intrepretation? thanks for claryfing
Hi Sir, which among the following can be included to calculate LTCG
I have receipts for:
1. Stamp duty
2. Sale deed registration
3. Bank loan interest
4. Land tax paid receipts
I donot have receipts for
1. Brokerage for purchase of residential plot
2. Brokerage for sale of residential plot
3. Construction of Compound wall
4. Society water connection
5. Legal expenses
Very informative videos, thanks,
Quick question: shop bought in 2006 and sold in 2022, how much cost of improvement (without receipts) can i put for each year to reduce my gain?
Very informative...can you talk about sale of cash crop land and how to save tax on it....
Cash crop as in rubber...
Sure
Sold a property on my name on 3.6.2022, and have a net LTCG of Rs 31lacs.
-Purchased a flat, for rs 74 lacs, jointly with my daughter's name. In oct 2022.
TDS @1% was remitted on the sellers pan , ie 37 lacs each, by self and daughter.
The tds is reflecting in the 26AS, of self and daughter.
The extra amount for purchasing the flat, was from my retirement benefits., post my superannuation
Question/ Query is: While filling my ITR 2, I need to mentionthe purchase price of the flat as Rs 37 lacs, and set off the LTCG of Rs 31 lacs.
Pl clarify my doubt sir.
Thanks in advance Jyothi
Yes the amount of your share .. that set off your entire capital gains
i have two questions -
1) Payment made towards parking space is it also considered as part of value of the apartment.
2) The purchase amount (all white) is higher than the valuation amount registered. In this case is the indexation on the purchase amount or the valuation at the time of registration.
1. Yes
2. Amount registered in the sale deed
I bought a flat in 2012 in 14lac & sold it in 2022 in 25lac.
1) Can I buy a commercial shop & save the capital gain tax amount?
2) what will be the capital tax to be paid?
1. No
Sir please clarify ,,,For how much time one can keep funds received from buyer in savings account?
I mean after how much time period it is mandatory to shift these funds from savings account to CAPITAL GAINS ACCOUNT.
how fair market value as on 1.4.2000 is calculated if property is purchased in march 1996.
Inherited property plot cost 4000/- in 1956, house was built of which cost is not known received in 1986, now what would be the indexed value of the property in 2022-23. Please let me know. Thanks.
Your video is excellent and very informative. Thank you.
Sir, I bought a house plot in 1995 and like to sell it now (2022-23). How is FMV calculated for 2001-02 the base year, CII being 100.
Good you tub video with excellent answers..can u help me what is the capital gains on the flat purchased in the year 1987 at Rs.3.50 lack and want to sell it at Rs.80 lack in the current year..with farmula
Very informative video. Few doubts/ questions :-
1. Property purchased by father in 1994. How to do the indexation for period prior to 2001 ?
2. Father expired in 2021 and I was nominated to take over this property by my father. As per my fathers 'will' I am to give a certain percentage of the sale proceeds to my sister ( who has since expired in 2022...... so now to her husband). My sisters husband is a foreign national and wants me to sell the house fast. On sale of the house how do I send the sale proceeds due to my sister, to her husband abroad. Does my brother in law (foreigner) have to open a bank account in India to receive my sisters share?
3. Since the house is in my name now, what are the tax implications on me in India. As part of the amount obtained from sale of the flat has to be sent abroad.
I will be grateful if you can guide me on the same
Regards
Excellent information thank you very much
Thank you 🙏
the 3 yr holding period of new property : is this from agreement date or OC date
Thanks for all information, u r great God bless fully for u & your family members sir. I am seal house only 17 lks I am not gain any amount extra but iam invest in sbi bnk, because iam age 64 , iam not having any other source sir, if any tax problem sir.
If I own three houses on a given date, say Oct 31, 2022 and if I sell one of the houses, then is there any restrictions on claiming CG exemption on the sale ?? I hear that more then two houses are there, then the exemption is not available. Is it correct ??
Hi sir, very informative. We got capital gains of 50L by selling a plot. Can I buy a residential plot for 40L and construct a home on the plot for 10L and claim entire 50L for LTCG benefits under construction of new residential home?
I have inherited a 40 year old house property which I had given to a builder for a joint venture development wherein he offered me 25L plus a 370 sq ft flat. Could you please tell me how much tax do I need to pay towards capital gain?
My wife purchased a flat(740 sq.ft.) in 2010 at a cost of Rs.14.00 lakhs. Now she will sell the property at Rs.38.00.lakhs. Will it be taxable ?
Payment to tenant under rent control act to vacate.does this count as improvements cost to inherited property?please answer
I have joint agreement for three flats each for me and a builder.Plot with area of 2720 sft with a building demolished.Buider offerstwo flats of 906sft each. Third flat will be sold.He offers cash consideration with two flats. Flats will be constructed onmy own land.There is a huge difference between guideline value and market value. Claiming exemption are we go with guideline value or market value? Pl clarify Thanks
Pl clarify whether I can get capital gains exemption if I have constructed abt 500 sq ft in the first floor from out of the sale proceeds of my residential plot
Sir, I had purchased a flat for Rs 11.5 lakhs in December 2003 and have just sold it in October 2022 for Rs 60 lakhs after 18+ years. I intend to invest Rs 30 lakhs in a flat which my son and daughter in law is buying. If I add my name in the new flat, am I liable to pay capital gain tax.
The present market value is about Rs 53.5 lakhs
Kindly advise
Hello Sir/Madame,
We received sales proceed from residential property selling. Date of transfer was in Dec 2021. But we received final proceed in March 2022. So can we invest the calculated capital gain in 54EC Bond, now?
can we get exemption for having two flats out of capital gain? sec 54 and 54 F differs.I think from AY 20+21 we have option to have two flats.kindly advice.thanks
I have given my land for flats . in return I am taking one flat and 550 sft as consideration amounting to 80 lakhs. Will it attract cgt
Thankyou sir.
Sir, is it compulsory to deposit capital gain within 6 months, though I am going to purchase property within next 2 yrs after sale agreement ?
Yes
Sir, does the entire amount have to be put into a capital gains ac or only the capital gain amount?
Only capital gains
@@capritishburton7682 Thanks for the super prompt reply
Sir one question..suppose if a house is bought jointly by a person and wife, the wife is a homemaker then will the capital gain be applied for Both or how will it be applied?
For both
Sir Firstly Thank you for your valuable vedios.
My question is I have a plot and wish to sale. If I sold half of the plot this financial year for 50 lakhs and half of the plot for again 50 lakhs in next financial year then I will eligible to invest in 54EC bonds each financial year 50 lakhs totalling 1 crore or not. I mean total 1 crore in two financial years as property sold two times and also two registration transfers in different financial years. Please clarify.
Hi i want to sell my house and use that money to build a commercial guest house and also renovate a residential house of mine. Is that possible?
Only residential house property
Sir my father having 2 property in different location on 2015 we have taken housing loan jointly rs 60 lakhs and constructed property 1. My father was expaired on 2017 we both brothers planning seperate properties. My brother is taking property no. 1 for his share along with balance loan liabilities and property no. 2 for my share and paying, 35 lakhs to me for difference value of property 1&, 2 and executing the gift deed for,, 35 lakhs. Is their any tax is applicable for 35 lakhs.
No
Please refer my video on taxability of gifts
Sir I received high land from my grand father by gift deed in 1967at the time of selling I have to pay Capital gains,pl guide me at your earliest
Hi sir ur videos are verey usefull
Thank you
Hi sir, we bought one house after sale of property and remaining amount invested in CGAS to purchase another within 2 years, but we didn't purchase the house... whether that amount is taxable in which year, when to file tax return?
Give one example sir
I saleone flat kindly tell about the capital gains
Check my video on capital gain
Sir, my mother has a site purchased during 1965 and it is transferred to me after her death a year back. Now I wish to sell the property. Pl explain me the capital gains liability......
Further the sale procede has to be divided among my two brothers and two sisters....
May i hope can get my answere
Thanks
What is the question ?
If iii is not utilised,10%tax in c.p
20
Sir
I got capital gain of 75 lakhs after selling plot after22 years later
I got residencehome
This 75 lakhs onlysource for my future buiseness
Iam maried 5kids
Can i buy 2or 3 openplots
In my range
So that i can survive afterselling in few year later
With this investment in plots can i save my capital gain tax
Thanks
Ur vid is best information
Tel us about parental residential property sale.
Sure,
Watch: ruclips.net/video/Yt_cnMPO19k/видео.html
If you have any doubts leave a comment.
Thank You 😊
Please respond.