Ramesh Nautiyal 1

• asked Jan 13, 2012

saving capital gain tax

We (husband & Wife) purchased a plot in 2000 at a cost of Rs.206000/- + 20600 cost of stamp papers. We sold the plot in Dec.2011 at a cost of Rs. 1625000/-. I computed the capital gain as Rs.1243000 and LTCG tax as Rs.248600/-. Is it O....

section-54f tax-saving long-term-gains capital-gains ltcg income-tax

0 votes

1 answers

2369 views

Amitks 1

• asked Jan 12, 2012

Sell of residential land

Hi Pankaj, I am confused with your reply to Srihari for "Questions on Capital Gain tax" and what you have mentioned in the article: Following is what you had suggested Srihari: "One more interesting point here is taxation of gains on plot s...

plot-sale land

0 votes

0 answers

607 views

gsharma 1

• asked Jan 12, 2012

Home Loan Prepayment

Dear Pankaj, Please suggest Is there any Tax benifit I would get If I prepay all or partial amount of my home loan by borrowin money from my Parents provided bank allows to do that? If I borrow money and then prepay my home loanthen what ar...

pre-payment tax-benefit home-loan income-tax

0 votes

1 answers

1996 views

gsharma 1

• asked Jan 12, 2012

Regarding HRA Exemption

Dear Pankaj, I am trying to use latest Income tax calculator but find one problem in HRA section. It looks like the HRA exemption is calculate only for those people whose rent is deducted from salary not for those who pay rent by them selve...

income-tax-calculator house-rent-allowance tax-exemption hra income-tax

0 votes

1 answers

2007 views

suren 41

• asked Jan 11, 2012

is it necessary to file if i didn't have return?

Hello sir ,in year 2010-2011 i paid tax but didn't have any returns (i.e zero return)to claim so didn't file return. is it necessary to file if i didn't have return i.e zero return? if yes then can i file zero return now?

income-tax-return file-return

0 votes

1 answers

818 views

zeeray 1

• asked Jan 11, 2012

Whether to use bank or brokerage firm for opening a DEMAT/Trading account?

I did some research online and some people don't recommend opening DEMAT/Trading accounts with banks and instead go with a more specialized brokerage firms such as India Bulls, Kotak etc. Are there big difference between banks and these bro...

brokerage bank-account demat-account

0 votes

1 answers

3593 views

income_ tax 1

• asked Jan 11, 2012

LTCG on sale of agriculture land in muncipal area

My wife is a housewife and she got a agriculture land transfered in her name after demise of her mother in 2005.Now she wants to sale the land in Feb 2012 at the approximate cost of Rs 10,00,000/ .She is having pan card but not filing any r...

agricultural-land long-term-gains capital-gains ltcg income-tax

0 votes

1 answers

1439 views

suren 41

• asked Jan 10, 2012

Can 4 years LTA amount be claim once?

Sir, If a person has annual eligibility of LTA as 20000. He Cary forward his first year's 20000 to next year and then claims this 40000 LTA. will this 40000 entirely be non taxable ? suppose he holds it for 4 years then claims it once which...

carry-forward lta-claim tax-exemption leave-travel-allowance income-tax lta

0 votes

1 answers

2367 views

Naveen Jhanjee 6

• asked Jan 10, 2012

Capital Gains on shares received as gift.

Dear Pankaj Ji, My mother had gifted me shares of companies like DrReddy, ITC etc. worth 4Cr in March 2011 through a notified and properly witnessed gift deed. She had acquired those shares in last 30 years and were in her demat for more th...

demat-transfer share-trading gift-deed long-term-gains capital-gains

0 votes

1 answers

1754 views

Naveen Jhanjee 6

• asked Jan 10, 2012

LTCG on sale of residential house after the death of husband.

Dear Pankaj Ji, My father had purchsed a residential house @ 46000/- in 1961. After his death my mother wishes to sell the property in 1.5 Cr and give .5 cr each to her unmarried daughter and two grandsons, so that they can purchase residen...

settlement-deed long-term-gains capital-gains ltcg income-tax

0 votes

1 answers

1068 views