Paying Tax on Capital Gains.. By CIEL Capital gains accrue
when an investor sells an asset (Property, Shares, Mutual Fund Units) for profit. The income tax (IT) laws define
capital assets and mandate that investors pay the applicable tax on shorter
long-term gains. The h…
Showing posts with label Real Estate - Capital Gains Tax. Show all posts
Showing posts with label Real Estate - Capital Gains Tax. Show all posts
Income Tax and CAPITAL GAINS..
Income Tax and CAPITAL GAINS.. Profits
and gains arising from transfer of a capital asset (Property, Stocks, Mutual Funds, Gold, Silver etc) are chargeable to income tax
under the head, Capital Gains (Sections 45 to 55A)*. Capital
gains can be divided in 2 categories i.e. s…
A Tax Reality check for New House Buyers
by Mr. Amarpal
Chadha, Tax Partner, EY. . The buyer has to
deduct tax on payment of sale consideration or credit to account of seller,
whichever is earlier. If you are planning
to buy a house or paying for an under-construction property, you should be
aware of a very importan…
Budget 2014-15: Capital Gain Benefits for One Residential House in India..!
Budget 2014-15 – Implications :
One Residential House in India..! This 2014-15 budget has plugged various
judicial pronouncements on the interpretation of the word “a residential house”
which was decided as “any” and / or “many” residential houses. Now this Budget has finall…
2014-15: Cost inflation index raised by 9.05%
In the 2013-14 year
the cost inflation index increased 10.2% The Central Board of
Direct Taxes (CBDT) has specified a value for the cost inflation index for
2014-15. A cost inflation
index helps reduce the inflationary gains, thereby reducing the long-term
capital gains tax …
Cost inflation Index for Financial Year 1981- 82 to 2014 - 15..
Cost
Inflation Index (CII) for Financial Year
1981 - 82 ( Base Year) to 2014 - 15 is given below
for your reference. Financial Year
Cost Inflation Index 1981
- 82 100 1982
- 83 109 1983
- 84 116 1984
- 85 …
Cost Inflation Index : Financial Year 2014-15 is 1024
Central
Board of Direct Taxes (CBDT) has notified the Cost Inflation Index (CII) for
Financial Year 2014-15. Complete
Notification is Given Below. SECTION
48, EXPLANATION (v) OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS - COMPUTATION
OF - NOTIFIED COST INFLATION INDEX FOR FINA…
Income Tax is withheld at 20 % if property seller does not have PAN
This is a new
provision, which has been introduced with effect from 1 June 2013 Reply by
Ms. Saroj Maniar, CA Question: I am residing in
Singapore and I plan on purchasing a commercial property in India. Can a
non-resident Indian (NRI) purchase commercial property in India? I…
SBI CAPGAINS PLUS (CAPITAL GAIN SCHEME)
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Sold a
Property? Deposit the amount that you propose to invest in
a residential property in due course* or any other specified asset to claim
exemption of Long Term Capital Gains Tax on sale of Capital Assets # in State
Bank of India’s CapGains Plus, under the Capital Gain…
Property Sale: Long-term capital gains can be exempt from tax if invested in the right avenues
How can I
save on capital gains tax if I want to sell a plot of land that I own? — S. Baghel Ans by by Ms. Parizad Sirwalla, KPMG In the
absence of complete facts, we have assumed that you have held the plot of land
for more than 36 months from the date of acquisition and acc…
Deduct 1 per cent Tax At Source While Buying Property Above Rs .50 Lac..!
Mr. Vineet Agarwal, Director, KPMG As
per a newly introduced section in the Income -Tax Act, 1961, (I T Act), a tax
at the rate of 1 % will be deducted on transfer of immovable property of Rs. 50
lakh & above. These
changes are effective from June 1, 2013, and immovable …
FINANCIAL YEAR 2013-14 : COST INFLATION INDEX 939
SECTION 48, EXPLANATION (v) OF INDIAN INCOME - TAX ACT,
1961 - CAPITAL GAINS - COMPUTATION OF - NOTIFIED COST INFLATION INDEX FOR
FINANCIAL YEAR (FY) 2013-14 NOTIFICATION NO. 40 / 2013 [F. NO. 142 / 7 /
2013-TPL]/SO 1464 (E), DATED 6-6-2013 In exercise of the powers conferred …
