BUSINESS
Can you claim LTCG exemption in different years for the same house constructed by you?
Section 54F allows exemption on long-term capital gains arising on the sale of a capital asset if the net sale proceeds are invested for purchasing or constructing a residential house property within the prescribed time period.
BUSINESS
Planning to move assets into an HUF? Read the fine print first
Since gifts received from a relative is not treated as income in the hands of the HUF, there is no tax liability for either the member throwing his self-acquired property in the common hotchpot or the HUF who receives such gift
BUSINESS
Missed ITR for FY25? You can still fix it using updated return
One can file an updated Income Tax Return within 48 months from end of the relevant assessment year.
BUSINESS
Share buyback rules before April 2026: Entire payout taxed at slab rate, not capital gains
After the budget proposal becomes law which will be effective from 1st April 2026 for the listed shares which become long term after one year, the retail investor will have to tax at 12.50% and @ 20% if holding period is less than 12 months.
BUSINESS
Can a deceased daughter's family claim her share in father’s property?
Under the Hindu Succession Act, 1956 on the death of a person without making a will his assets are inherited by the legal heirs mentioned in schedule to the Hindu Succession Act, 1956 as their individual asset.
BUSINESS
ELSS or NSC: which option saves more tax and offers better returns?
The suitability of an investment product depends on factors such as risk appetite, time horizon and near-term liquidity requirements
BUSINESS
When does NRI status apply to Indian crew working on a foreign ship?
Under the income tax laws, a person's income is taxed based on their residential status and the source country of the income
BUSINESS
Selling cumulative bonds before maturity: Is the gain taxed as LTCG or interest income?
Cumulative bonds carrying fixed coupon rate can be treated as capital asset. Any profit or loss made on sale of such bonds should logically be taxed under the head capital gains.
BUSINESS
Selling land bought 40 years ago? Here's how to prove the ownership without copy of agreement.
Since this is no longer an agricultural land, long-term capital gains tax apply, Here’s how
BUSINESS
Why senior citizens should register will for smooth succession of stocks
For uninterrupted succession of an assets to legal heirs or nominees, the original shareholder should make a valid will and get it registered
BUSINESS
Should you switch your home loan to a lender offering lower rates? What borrowers should know
When transferring the home loan, compute the amount that can be saved after calculating interest rate on the remainin balance for the remaining tenure.
BUSINESS
How married couples can save capital gains tax on a house sale under Section 54F
Long-term capital gains apply at a flat 12.50 percent, or at 20 percent on indexed gains.
BUSINESS
How to distribute proceeds from sale of property built or purchased by forefathers?
Property inherited before June 17, 1956, qualifies as ancestral. Inheritances after that date are treated as personal property under the Hindu Succession Act, 1956.
BUSINESS
Can someone who has lived abroad for more than 182 days in a fiscal file ITR-1?
If you stay outside India for more than 182 days, you can't use ITR Form 1. It is not a question of being a resident or a non-resident
BUSINESS
Will investing ancestral house sale proceeds in bonds and property save capital gains?
The holding period to determine whether the asset has become a long-term or not is counted from the date on which the property was acquired by the last owner
BUSINESS
Sovereign gold bonds: Why HUFs Face 12.5% LTCG on redemption but individuals get tax exemption
According to the Income Tax Act, the redemption of SGB by an individual investor is not treated for computing capital gains but LTCG at 12.5 percent apply on the investment made in the name of HUF
BUSINESS
How is property divided among siblings when a parent leaves an unregistered will
Under the Indian Succession Act, a will is not required to be registered to make it valid and legally enforceable.
BUSINESS
Why September 9, 2005 matters for daughters claiming HUF property
The Supreme Court has held that all the daughters who were alive on September 9, 2005 are to be treated as coparceners of the HUF and are entitled to a share in the HUF property
BUSINESS
Borrowing from your parents to buy a house? Here is how tax deduction under Section 24(b) works
Section 24(b) lets you claim up to Rs 2 lakh interest deduction under the old regime, even on a home loan taken from parents, relatives or friends.
BUSINESS
Buying a house with equity gains? How Section 54F works with share sales and home loans
Section 54F exempts long-term gains on selling non-house assets if the sale proceeds are invested in a residential house within the time limit.
BUSINESS
Selling pre-marriage land? Why routing proceeds to your spouse may not save tax
Capital gains are taxed in the owner’s hands. If the land is in the owner’s name and no part has been gifted to the spouse, the full LTCG is taxable to the owner and must be reported in your ITR.
BUSINESS
ULIP, traditional plan or SIP? Why parents should separate insurance from child investment goals
It is advisable to decide in advance the corpus you want for your child at a specific age and invest accordingly through monthly SIPs
BUSINESS
Bought under-construction flat? Check how Section 54 applies to LTCG exemption
Under-construction bookings qualify for LTCG exemption under Section 54 if possession is made within three years.
BUSINESS
Investing plot sale proceeds in an under-construction property? Here’s how Section 54F works for LTCG exemption
Section 54F exempts LTCG if the plot sale proceeds are invested in a residential house, provided that the under-construction apartment is completed within three years.
