My father had invested around 3 lakhs in the shares of a Private Limited Nursing Home in 1990. The present cost of the shares is around 30 lakhs. After the death of my father, the shares were transferred in the name of my mother. If the shares are now sold, will my mother have to pay any income tax on the profit? If yes, what are the possible ways to evade it?
Section 70 says something about this, but I am not sure.
will d tax b deducted at the time of selling of shares or the tax will be duducted anually?
Will it be taxed like capital gains or as business income. The firm is established with the purpose of investing in shares only.
a) Will I be liable to pay income tax on my short term gains in shares even if my total income remains below taxable limits.
b) must I file IT returns.
50% share in the property.is she entiteled for share?
Please let me know if the amount received on the sale of shares held by me for less than 12 months and invested in other company shares, is still taxable? Can’t I avoid tax by using the money to purchase other company shares?
WHAT IS THE INCOME TAX APPLICABLE ON SALE OF SHARES OF PRIVATE NURSING HOME HELD FOR MORE THAN 20YEARS? Does it come under Long Term Capital Gain Tax. Kindly reply.
What is indexation benefit and how do we calculate that?
Regarding Capitalgain tax
My wife is housewife trading shares with an amount of Rs.50,000. She is getting profit from it around Rs.10000 every year since 2008 but she never filled income tax return form. And she has no other income.Should she fill ITR for this assessment year 2010-11?