Good morning sir. Thanks for your reply to my query: " answer one query; can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (opened within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Please advise whether is it correct". Kindly clarify one more thing: "Is it mandatory that the Capital Gains Account had to be opened within 6 months from the date of sale of plots or otherwise" ? Thanks for your prompt replies and continued support.
Suppose I have a godown in my books and use it both for godown and residential purpose Now how to save capital gain tax by selling it, note i have another 2 residential flats
So, I own a residential house and 2 residential plots. Suppose I sell one of the residential plots and build a bungalow on the other plot (out of the capital gains) will I be able to avail exemption under section 54F? Also can I subsequently invest in 54EC bonds as well?
Sir, my question is .....long term capital gain occurs by selling residential property, can use for purchase of commercial property and save tax on capital gain.
Sir thanks very informative and clear guidance without doubts, i have 2 query if you can clarify... 1 if a property was a tenanted one, went for redevelopment, what will be considered as cost of investment and from which date it will be considered as acquisition ? 2) how many times this section can be claimed i.e. if one has one small shop and 2 small houses, on sale of every property same rule will apply at the time of transaction ? If not then say selling all within 1 year will make it eligible ?
Thank you sir for the in depth information. Kindly answer one query; can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (opened within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Please advise whether is it correct. Thanks and regards.
I have purchased plot 2 years ago in joint name of myself and my wife, we both are govt servants. I have business loss ( loss on shares) in the current year my question whether it can be adjust against capital gain on sale of plot. I have also carry forward of business loss ( loss on shares),, whether the same can be adjusted against capital gain of plot. The date of purchase will be first payment made from the account ? The date of sale will be first payment received ? 2. The home loan has been taken and margin contributed from joint account. Majority of the amount contributed by me, Can I treat entire plot in my account or I need to proportionate to the contribution made by each of us.
how to calculate indexed cost of land. my land purchase value is 40 laces and cost of construction is 40 lakhs. If I sale it for 2 Crores then please suggest the best option to save tax. land and building construction year is FY 1819 and sale year is FY 2324.
I have a doubt. I have a plot of land and residential flat (jointly with spouse for both land and flat). (1)If i want to sell both and invest the capital gains in one residential house in the same financial year. Will capital gains tax exemption under sec.54 and 54F(both sections) will be allowed.(2) what would be the share of percentage of capital gains for income tax purposes for both myself and spouse.
Sir I bought a shop in 1998 and cost was 1lakh but that time we bought on 2 person name one is me and second one is my Aunty then after we have sale deed in 2005 where my Aunty sold me the 50% part and the proper is fully owned by me . Now I recently sold October 2022 the same shop in 25 lakhs please tell me how to count Capital gain tax 🙏
Out of capital gains i have two residential property. Can I make settlement with my wife for one flat without consideration within two years of from the date of occupation? This is not a sale only for settlement without consideration.Rules are silent about sett without consideration.kindly clarify thanks
we have option to have two flats out of capital gain as.per sec 54. could u pl tell me what items can be included in the construction cost like woodwork plumbing electrical work windows doors gril gate fans ac chimney car parking modular kitchen etc.kindly advise.thanks
Very informative sir, great efforts, thank you. One question: if we sell agriculture property, can we use the proceeds to buy any residential plot without paying any tax?
Hi Sir. Thank for the information. My doubt is "I take a personal loan from a nationalized bank like SBI by keeping my only residential property and the total land as collateral, say 2.5 crores, to buy a commercial property. i bought the commercial property with that money and now i have repayment starting from the immediate next month with principal and interest. my question is can i use the rent earnings that I receive from this commercial building for the monthly loan repayment and can I get a complete exception from tax payment, due to my loan repayment or how many tax exceptions can I get? My second question is can I use my newly bought commercial property as collateral to take a new loan from SBI for buying a new COMMERCIAL property?
Sir, I listened to your very informative video on Capital Gain Tax on sale of Commercial Property. Kindly advise on this specific doubt; I sold two residential open plots in Nov 2021. I want to invest the total sale proceeds and buy a house/flat. Can I get exemption under 54F and what is the time limit? I already own a house as on the date of sale of plots. Regards
@@capritishburton7682 Thank you sir. In that case, can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Kindly advise whether is it correct. Thanks and regards.
I purchased a plot in the year 2001 of rs 4 lakh. Now I sold that land of 12 lakh in the year 2021. Now I purchased a flat in 2022 by taking loan from Bank. My question is that can I adjusted the capital gain amount with home loan ?
Hi Sir, for calculation of capital gain tax on sale of plot, can the expenses incurred for coversion of land from agriculture to residential, expenses for single layout, expenses of paying property tax be deducted from sale proceeds
Hello sir, I recently sold a residential plot and with that money i want to purchase a commercial property. Is it possible...? If yes , then what's the procedure. THANKING YOU
Sir,Ít was very informative video .I have sold an plot in Nov 2021.By that time, I already had 2residential houses.Now I want to construct residential building over the 2nd floor of the 2nd house to avail the benefits under 54F. Pl clarífy whether it can be done. Thanks With Regards Padmavathi Pl , waiting for the reply
Sir pls guide I sold my commercial property & had Home loan commercial lap to construct it so can I get benefit of intrest paid to bank which reduce my capital gain tax ammt. Thanks
sir I was constructed house in 1988 ground floor Later I was built one floor in 2011 .Now I want to sell total building 1.2 crore Pl advise me how to save capital
Dear Sir, Thanks for the info. I have one query, can multiple capital gain accounts be opened of one customer?(if u could provide reference for your answer then it would be helpful)
My father had sold the commercial property on 2021 and purchased residential property in the name of his wife on 2022 . so does he still has to pay long term capital gain tax?
Sir, kindly spare some time to clarify my doubt: "Is it mandatory that the 'Capital Gains Account' had to be opened within 6 months from the date of sale of plots or otherwise" ? Thanks and regards
Sir can we invest the sale proceeds of commercial property in 2 residential house properties simultaneously for full amount exemption ? I mean can we invest the amount in 2 residential properties ?
Sir I purchased a factory at the amount of 15 lakh in 2014 and sell it on 37 lakh on 2021 and 1 year ago i constructed a residential house which cost me 40 lakh can you please tell me how i save my tax.
Hello Sir, I am Shivam Sharma from Uttar Pradesh. I am selling Commercial/Residential land which is un divided (means half part of land is owning by my mother and half by uncle) we are selling our half part of land and planning to purchase residential house. Currently we don't have any single house. And we are planning to invest partial amout to the new house. For example: 40 lack total selling price so we invest 25 pack into new first house and rest we are saving. In above case is any capital gains applicable on us OR on partial amout like 15 lack what we are saving OR No Tax? Requesting you to please answer my question it will be so much helpful for us Thank you in advance Sir 😊
Sir, I wish to sale my residential open plot in next month which I purchased some 7 years back. Can I save the Long Term Capital Gain arising after sale of this open residential plot by purchasing a commercial property/shop within 6 months of this sale?
Hello Sir, my father recently sold off our wedding hall, unfortunately- only after the sale did we realise that we would be taxed very heavily on the sale (over half the money generated). Is there any way to rectify this error?
Very useful info,....I got a doubt. , I will be selling a commercial plot in Mangalore, Karnataka State and I am planning to purchase a Flat in Mumbai . Whether this will qualify me to avail long term capital gains tax exemption under the 54 F for housing/residential property. Please advise...Thanks you in advance.
Sir I have to sell the open plot gifted to my wife in the year 2000 who is expired Please advise me to avoid capital gains tax . I have two children as legal heirs Apart from me.
Sir very useful vedios. Thank you very much. Is it option to invest total sale deed amount in 54EC, if yes what is the maximum limit or no maximum limit, please clarify. Sir Please also clarify NRI is eligible facility to invest vide 54EC or not.
excellent content
Thank you
Very informative
An excellent presentation. Kindly clarify whether sale of residential plots falls under sale of house property or sale of commercial property.
Regards
Thank you .. it falls under section 54F .. what applies to commercial property applies to land as well
very useful video
Thank you
Very informative video
Very good information
Thank you
Amazing video
Thank you
how capital gain will be calculated on sale of commercial plot where depriciation has been charged
Very helpful.. thankyou
Thank you 🙏
thanks, man. helped a lot.
Thanks 🙏
Beautiful video
Good morning sir. Thanks for your reply to my query:
" answer one query; can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (opened within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Please advise whether is it correct".
Kindly clarify one more thing: "Is it mandatory that the Capital Gains Account had to be opened within 6 months from the date of sale of plots or otherwise" ?
Thanks for your prompt replies and continued support.
Yes you can avail exemption under 54f ..
Very informative..
Thabk you
Suppose I have a godown in my books and use it both for godown and residential purpose
Now how to save capital gain tax by selling it, note i have another 2 residential flats
So, I own a residential house and 2 residential plots. Suppose I sell one of the residential plots and build a bungalow on the other plot (out of the capital gains) will I be able to avail exemption under section 54F? Also can I subsequently invest in 54EC bonds as well?
Yes
Sir, my question is .....long term capital gain occurs by selling residential property, can use for purchase of commercial property and save tax on capital gain.
Other way round possible under section 54f
Sir thanks very informative and clear guidance without doubts, i have 2 query if you can clarify...
1 if a property was a tenanted one, went for redevelopment, what will be considered as cost of investment and from which date it will be considered as acquisition ?
2) how many times this section can be claimed i.e. if one has one small shop and 2 small houses, on sale of every property same rule will apply at the time of transaction ? If not then say selling all within 1 year will make it eligible ?
Thank you
Welcome
One doubt.. what if we invest in a commercial property with the sale proceeds of a land?
No exemption
Thank you sir for the in depth information. Kindly answer one query; can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (opened within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Please advise whether is it correct.
Thanks and regards.
Yes you can do it
What difference allowed between sale agreement value and stamp duty value to calculate capital gain
I have purchased plot 2 years ago in joint name of myself and my wife, we both are govt servants. I have business loss ( loss on shares) in the current year my question whether it can be adjust against capital gain on sale of plot. I have also carry forward of business loss ( loss on shares),, whether the same can be adjusted against capital gain of plot. The date of purchase will be first payment made from the account ? The date of sale will be first payment received ?
2. The home loan has been taken and margin contributed from joint account. Majority of the amount contributed by me, Can I treat entire plot in my account or I need to proportionate to the contribution made by each of us.
how to calculate indexed cost of land. my land purchase value is 40 laces and cost of construction is 40 lakhs. If I sale it for 2 Crores then please suggest the best option to save tax. land and building construction year is FY 1819 and sale year is FY 2324.
But section 54f is not available if property is shown under house property income
I have a doubt. I have a plot of land and residential flat (jointly with spouse for both land and flat). (1)If i want to sell both and invest the capital gains in one residential house in the same financial year. Will capital gains tax exemption under sec.54 and 54F(both sections) will be allowed.(2) what would be the share of percentage of capital gains for income tax purposes for both myself and spouse.
Sir I bought a shop in 1998 and cost was 1lakh but that time we bought on 2 person name one is me and second one is my Aunty then after we have sale deed in 2005 where my Aunty sold me the 50% part and the proper is fully owned by me . Now I recently sold October 2022 the same shop in 25 lakhs please tell me how to count Capital gain tax 🙏
Very good video sir
Thank you
Excellent video
Out of capital gains i have two residential property. Can I make settlement with my wife for one flat without consideration within two years of from the date of occupation? This is not a sale only for settlement without consideration.Rules are silent about sett without consideration.kindly clarify thanks
we have option to have two flats out of capital gain as.per sec 54. could u pl tell me what items can be included in the construction cost like woodwork plumbing electrical work windows doors gril gate fans ac chimney car parking modular kitchen etc.kindly advise.thanks
Can we save tax on purchase of a plot after selling commercial property ?
No
Very informative sir, great efforts, thank you. One question: if we sell agriculture property, can we use the proceeds to buy any residential plot without paying any tax?
IMHO you can do what ever you want from the sale amount of agriculture property, no restrictions.
Provided it’s a rural agricultural property
Parking money in Capital gain account , bank pays any interest for that ? That interest amount is taxable?
It is similar to regular savings account
What if some does not buy a residential property after 2 years and then decide to pay the tax instead. Is that ok ?
Sir I sell my commercial property in 21-22 I purchased in 22-23 very less of selling price please help
Hi Sir. Thank for the information. My doubt is "I take a personal loan from a nationalized bank like SBI by keeping my only residential property and the total land as collateral, say 2.5 crores, to buy a commercial property. i bought the commercial property with that money and now i have repayment starting from the immediate next month with principal and interest.
my question is can i use the rent earnings that I receive from this commercial building for the monthly loan repayment and can I get a complete exception from tax payment, due to my loan repayment or how many tax exceptions can I get?
My second question is can I use my newly bought commercial property as collateral to take a new loan from SBI for buying a new COMMERCIAL property?
No exemption from tax for repaying your loan. Rental income is taxed as well .
Yes you can use the property to avail loan . Check with banker
Is indexation now compulsory for sale of residential property, it's better if if i do not claim indexation and pay ltcg at 10 percent in my case?
Thank you sir
Good info
Thank you
Can we save tax by investing in purchase of new commercial property
No
Good video
Thank you 🙏
Sir, I listened to your very informative video on Capital Gain Tax on sale of Commercial Property.
Kindly advise on this specific doubt; I sold two residential open plots in Nov 2021. I want to invest the total sale proceeds and buy a house/flat. Can I get exemption under 54F and what is the time limit? I already own a house as on the date of sale of plots.
Regards
Thank you . Yes you can. Section 54F says you cannot own more than one house on the date of sale or transfer.
@@capritishburton7682 Thank you sir. In that case, can I park the entire sale proceeds (two open plots sold in Nov 2021) in Capital Gains Accounts Scheme (within 6 months from the date of sale) and subsequently keep paying for purchase of new flat (payment in parts depending upon the progress of construction of the flat) within two years from the sale ? At the same time get exemption under Section 54F. Kindly advise whether is it correct.
Thanks and regards.
I purchased a plot in the year 2001 of rs 4 lakh. Now I sold that land of 12 lakh in the year 2021. Now I purchased a flat in 2022 by taking loan from Bank. My question is that can I adjusted the capital gain amount with home loan ?
No cannot be adjusted against home loan repayment
Actually using that mentioned capital gain , can I show that the my new flat purchased with the help of capital gain in my ITR
Hi Sir, for calculation of capital gain tax on sale of plot, can the expenses incurred for coversion of land from agriculture to residential, expenses for single layout, expenses of paying property tax be deducted from sale proceeds
Any improvement or selling expenses can be added
Hey Pritish , is this still applicable if a significant portion of money is used to pay back a huge loan on the property?
Yes
Hello sir,
I recently sold a residential plot and with that money i want to purchase a commercial property. Is it possible...?
If yes , then what's the procedure.
THANKING YOU
Sir,Ít was very informative video
.I have sold an plot in Nov 2021.By that time, I already had 2residential houses.Now I want to construct residential building over the 2nd floor of the 2nd house to avail the benefits under 54F. Pl clarífy whether it can be done.
Thanks
With Regards
Padmavathi
Pl , waiting for the reply
Sir pls guide I sold my commercial property & had Home loan commercial lap to construct it so can I get benefit of intrest paid to bank which reduce my capital gain tax ammt. Thanks
sir I was constructed house in 1988 ground floor
Later I was built one floor in 2011 .Now I want to sell total building 1.2 crore
Pl advise me how to save capital
Pls watch my video on how to pay no tax on sale of house property
Dear Sir,
Thanks for the info. I have one query, can multiple capital gain accounts be opened of one customer?(if u could provide reference for your answer then it would be helpful)
Sir if there is any limit for investing in section 54 EC . Pl. reply .
50 lakhs
Whether entire sale proceeds of land owned by me can be used for buying house in my son's name to avoid paying capital gain tax
Not possible
Can be done in spouses name
@@capritishburton7682 Thanks
My father had sold the commercial property on 2021 and purchased residential property in the name of his wife on 2022 . so does he still has to pay long term capital gain tax?
Not required if there is so no tax liability after investment . Need to file IT return
Sir, kindly spare some time to clarify my doubt:
"Is it mandatory that the 'Capital Gains Account' had to be opened within 6 months from the date of sale of plots or otherwise" ?
Thanks and regards
Before filing your returns for the year
IF I SALE COMMERCIAL PROPERTY AFTER 5 YERS OF PURCHASE CAN I SAVE TAX BY BUYING ANOTHER COMMERCIAL PROPERTY/ BUILDING OR COMMERCIAL LAND
No
Sir can we invest the sale proceeds of commercial property in 2 residential house properties simultaneously for full amount exemption ? I mean can we invest the amount in 2 residential properties ?
Hello sir can we buy two residential flats with the total sale proceeds of a vacant land plot to save tax
The section says that you should not own more than one house at the time of the sale of property ..
Sir I purchased a factory at the amount of 15 lakh in 2014 and sell it on 37 lakh on 2021 and 1 year ago i constructed a residential house which cost me 40 lakh can you please tell me how i save my tax.
Hello Sir,
I am Shivam Sharma from Uttar Pradesh. I am selling Commercial/Residential land which is un divided (means half part of land is owning by my mother and half by uncle) we are selling our half part of land and planning to purchase residential house. Currently we don't have any single house. And we are planning to invest partial amout to the new house. For example: 40 lack total selling price so we invest 25 pack into new first house and rest we are saving.
In above case is any capital gains applicable on us OR on partial amout like 15 lack what we are saving OR No Tax?
Requesting you to please answer my question it will be so much helpful for us
Thank you in advance Sir 😊
Sir, I wish to sale my residential open plot in next month which I purchased some 7 years back. Can I save the Long Term Capital Gain arising after sale of this open residential plot by purchasing a commercial property/shop within 6 months of this sale?
Sir can i purchase a commercial property after selling a plot to get tax exemption kindly reply
No
Hello Sir, my father recently sold off our wedding hall, unfortunately- only after the sale did we realise that we would be taxed very heavily on the sale (over half the money generated). Is there any way to rectify this error?
I have explained the exemptions available.. no other way unfortunately
It's urgent..
Very useful info,....I got a doubt. , I will be selling a commercial plot in Mangalore, Karnataka State and I am planning to purchase a Flat in Mumbai . Whether this will qualify me to avail long term capital gains tax exemption under the 54 F for housing/residential property. Please advise...Thanks you in advance.
Yes you can avail under section 54
@@capritishburton7682 Thanks a lot for info🙏
Sir
I have to sell the open plot gifted to my wife in the year 2000 who is expired
Please advise me to avoid capital gains tax . I have two children as legal heirs
Apart from me.
Sir Please give reply
Sir very useful vedios. Thank you very much. Is it option to invest total sale deed amount in 54EC, if yes what is the maximum limit or no maximum limit, please clarify.
Sir Please also clarify NRI is eligible facility to invest vide 54EC or not.
Thank you 🙏 maximum is 50 lakhs
@@capritishburton7682 Thank you Sir
NRI if sold property, they also eligible for invest in 54EC bonds or not please clarify Sir.
very informative video
Thank you Grace
If there is any limit to invest in 54 EC
Very informative
Thank you
Very useful information
Thank you