Now it as been registered to my father name.And now we are planning to sell that land and purchase some other property for our income.So i need clarification like, how can we save tax.And after sales when we keep amount in bank.Do the Income tax department ask us to pay tax immediately ? Or wat will be the situation. How we have to move.
My friend has to invest in long term capital gains tax exemption bonds(54 EC) of NHAI/ REC.Kindly suggest reliable agents/brokers within Mumbai who can assist and ensure correctness of the entire procedure of applying for the said bonds. Thanks.
if so at what rate? Can I save capital gains tax by investing in any tax saving scheme? Please help me with any such scheme.
i want to know when should we have to pay income tax against capital gains (i mean in which month) and what if i want to pay tax for capital gains against last year,
if a parent “gives” farm property to a son, what % is the parent charged on the capital gains? (purchase price verses fair market value?)
Section 70 says something about this, but I am not sure.
In Income tax returns form where i have to acoount this?,what is the form No?If my capital loss is more than gain in this period, should i give any tax?
Can I buy another house/flat by investing the profit in this transcation though I am already having a house.
Capital gain tax is likely to occur to me in January 2012 from the sale of inherited property, To save this tax I need to buy another residential property, I am getting a cheaper property now this month, So can I purchase the property now from my own savings and save the capital gain tax occuring to me in Jan 2012 on sale of inherited property.
I bought a property in Kolkata sometime back. The allotment date was in 2005, however the prosession date was in Jan 2011. I now want to sell it and use the proceedings to buy another property. Will it come under Short Term or Long Term capital gain? If it is STCG, is there any way to save on Tax?