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Source: Live Mint Capital gains are the profits generated by an investor after selling a capital asset. These profits are the difference between the selling price and the original purchase price of a capital asset. Capital gains play a key role in determining how an investment has performed over a period of time. Types of…
Source: Live Mint Can I buy two residential house properties to claim exemption on long-term capital gains from the sale of one house? Can I buy two house properties in the joint names of self and other family members to claim an exemption for long-term capital gains from the sale of one residential house property…
Source: Live Mint If we sell our residential house for, say, ₹50 lakh, do we have to invest the full 50 lakh to buy another residential house property, or do we only need to invest the long-term capital gains? I was under the impression that only the capital gains amount needed to be invested in…
Source: Live Mint Do you regularly invest in stocks and have booked capital gains by selling some shares recently? In case you are not aware, these gains can be set off against the losses you may have incurred via another stock. This process of adjusting the loss against the gain is known as ‘tax loss…
Source: Live Mint For agricultural purposes, I intend to sell my urban agricultural land within the municipal limits, which has been repurchased for ten years. How can I save capital gains tax? Can I purchase another agricultural land out of the sale proceeds in my name or the joint names of my husband/sons or invest…
Source: Live Mint I have sold a plot of land for ₹67 lakh. After indexation, the taxable long-term capital is around Rs35.40 Lakh. If I invest the long-term capital gains of Rs35.40 lakh in a residential flat, I understand that I do not have to pay any tax due to the exemption available under Section…
Source: Live Mint Selling a stock, bond, mutual fund, or real estate at a loss may feel like a setback, but it can actually work in your favor at tax time. The Income Tax Act allows taxpayers to use capital losses to offset gains, reducing their tax burden. Even if you can’t use the entire…
Source: Live Mint Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital gain, should we take the market value as of 2003 (date of inheritance) or the market value as of 2010 (date…
Source: Live Mint So, what exactly makes land ‘rural’ in the eyes of the taxman? The answer lies in a set of specific conditions that could mean the difference between zero tax and a hefty capital gains bill. What is rural agricultural land? To be considered rural agricultural land, the property must not be located…
Source: Live Mint I purchased a flat worth ₹50,00,000 on 15/4/2024, against which I took a home loan. On 15/10/2024, I sold my 10 years of commercial property for ₹45,00,000. So, to get long-term capital gain tax exemption, is it necessary to repay the home loan amount from the money I got from selling the…
