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Capital Gains Tax India A guide to tax impact on income from capital gains Updated on Feb 02, 2018 - 05:33:33 PM Contents: What is a  Capital   Gain ? What are Long-Term and Short-Term  Capital  Assets? Calculating  Capital   Gains Exemption on  Capital   Gains Saving Tax on Sale of Agricultural Land What is a  Capital   Gain ? Any profit or  gain  that arises from the sale of a ‘ capital  asset’ is a  capital   gain . This  gain  or profit is charged to tax in the year in which the transfer of the  capital  asset takes place. Capital   gains  are not applicable when an asset is inherited because there is no sale, only a transfer. However, if this asset is sold by the person who inherits it,  capital   gains  tax will be applicable. The Income Tax Act has specifically exempted assets received as gifts by way of an inheritance or will. What is a  Capital  Asset? Here are some examples of  capital  assets: land, building, house property, vehicles, patents,

From June 1st 2013, when a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land)  costing more than Rs 50lakhs , he has to deduct TDS when he pays the seller. This has been laid out in  Section 194-IA  of the Income Tax Act. Here are the requirements of this section: The buyer has to deduct TDS at  1%  of the total sale consideration. Note that the  buyer  is required to deduct TDS, not the  seller . No TDS is deducted if sale consideration is less than Rs 50lakhs. If installments are being paid TDS has to be deducted on each installment. Tax is to be paid on the entire sale amount. For example, if you have bought a house at Rs 55lakh, you have to pay tax on Rs 55lakh and not on Rs 5lakh (i.e. Rs 55lakh – Rs 50lakh). This is applicable even when there is more than 1 buyer or seller. If you are the buyer, you do not need to obtain a TAN (Tax Deduction Account Number) number. If you are the seller, you have to provide

Greetings,  2acres amenity reservation plot for sale at prime location near Phase 1, Hinjewadi Rajiv Gandhi Infotech Park, Hinjawadi, Pune, Maharashtra Plot state is amenity space, Road touch frontage, ideal for school or hospital or any other public amenity, asking price Rs.2000/- per Sqft.  For plot purchase,  Built to suit option: can also make built to suit for buyer or school looking to have hassel free assistance in constructing the local approvals etc.  For more detail genuine enquiry, pls contact. Thanks & Regards, Deepak Sundrani, The Guru Realty, RERA CERTIFICATE NO. A52100002438 Member NAR - INDIA (National Association of Realtors - India) Member ICREA (International Consortium of Real Estate Associations) Member of EAAP (The Estate Agents' Association of Pune) Shop No. D-110, Ground Floor, Megacentre, Behind Noble Hospital, Hadapsar sholapur highway, Near Magarpatta IT park,   Pune - 411028, Maharashtra, India. Tel/Fax: +91-20-30401206 Mobile: +91-

Dear Readers of my Blog, thought to share my brief email correspondence with my NRI client on the matter of his query of Capital Gain tax on property sale in india, sharing as it is: Question: On 10-Jan-2018, at 12:12 PM, arindam das wrote: Hi Deepak Happy new year ! hope you are well. Can you pls advise your understanding of the long term capital gains tax rules for sale of property, should we decide to sell any of our India properties. Thanks and regards Arindam My Reply: Greetings Mr. Arindam,  Happy new year to you, I am fine, thanks. Reg. capital Gain tax on property: thanks for asking query to me although this question should be explained by CA OR LAWYER as this is legal /tax Related. However still as we are into this business & come across such transactions so can share you my personal understanding of the same as follows: Point 1) Capital gain tax is charged upon profit you make on any property. Point 2) profit is calculate

Project Likely To Become A Reality in 2026 TIMES NEWS NETWORK Pune:The pre-feasibility study by Los Angeles-based Virgin Hyperloop One and the Pune Metropolitan Region Development Authority (PMRDA) has given a green signal to the Pune-Mumbai route for Hyperloop — the speedy mode of transport — and it could be a reality in 2026. The report of the preliminary study conducted by PMRDA and Virgin Hyperloop One (VHO) was finalized on Monday. It would be submitted to the state government on January 15, said PMRDA commissioner Kiran Gitte. He said the team from PMRDA and VHO, who conducted the study, stated if all the sanctions, the actual study and the proposed demands were cleared, Pune-Mumbai Hyperloop should come into existence in 2026. The study to ready the prefeasibility study was undertaken in six weeks after the state signed a memorandum of understanding. The study ended in January first week. “They study has been very positive in terms of feasibility of the rou

What are the key clauses in a loan agreement, which a home-buyer should keep in mind? AMIT SETHI Home buying has become easier nowadays. With just a small amount as down payment, the rest of your property cost can be arranged through a home loan. Getting a home loan is easy, but have you read the fine print on the home loan agreement? If not, then you may be missing out important clauses of the loan agreement, which, if invoked, can land you into trouble. “While taking a home loan, most buyers focus only on basic factors such as interest rate, down payment and EMI. The buyer pays scant attention to the loan agreement, which is often relegated as a legal formality to be signed in a hurry. However, a home loan is a major financial decision, the impact of which plays out over a long period of time. This agreement is binding on the customer during the entire tenure of the loan. It is therefore necessary to be aware about the important clauses in your loan agreement,” explains

Delays, Lack Of Transparency Were Hurdles Nisha.Nambiar Pune: After years of indecisiveness, the implementation of MahaRERA has helped Qatar-based Shibu and Josy Thomas make up their mind to invest in a realty project in Baner. With Josy’s parents from Pune, the couple have been looking to invest in a project here for the last few years. “We always wanted a home in the city, our birthplace. We will finally have an investment in the realty sector and can do it with confidence,” Josy said. Another US-based couple, who did not wish to be named, said they have asked their relatives to look for investment in the real estate segment here. “My sister-inlaw, who would hesitate to invest in Pune till the other day, has asked us to be on the look out for RERA-registered projects,” said M Rao, whose brother and sister-in-law are in the US. Non-resident Indians have been traditionally attracted to investments in the real estate sector because of currency exchange rate and easy laws for

Dear Readers, recently I have posted many articles regarding opting bank finance to purchase properties which is having great advantage & necessities to own property in today’s scnerio. Here further, got an opportunity to talk my old time client cum friend Mr. Avnish Bhatnager working as a chief manager in Bank of Baroda & he has shared with me really a great advantages to go for bank Finance route to own a property so I requested him to share his views in writing small piece which can help many readers & aspirants looking to buy property & still thinking to go for bank Finance or not. Here is piece of small text message from Mr. Bhatnager: “ It is very simple to understand the advantages of availing loan to acquire property First it is available at cheapest possible rates at one should avail it from well reputed leading organisations viz Nationalized banks, leading Pvt banks. The EMI payable every year not only save,/reduce Tax liability Becomes compulsory savi

ASSESS YOUR FINANCIAL HEALTH AMIT SETHI  TIMESPROPERTY Buying a home in a leading metro is no easy feat, especially because it turns out to be an expensive purchase. Therefore, a lot of people opt for a home loan to realise their home-buying dream. So, if you are looking to opt for a home loan it is extremely important that you bear in mind the ‘consequences of a good credit score’. In fact, if you do not have an ideal credit score, you may also be refused loan from most of the leading banks in the city. HOW CAN YOU SECURE A HOME LOAN DESPITE A LOW CREDIT SCORE? If you have a low credit score by a few points, then you can opt for the following steps to get the home loan: Provide additional security to the lender; Improve the credit score by disciplined use of existing debts and credit cards; Apply for a home loan jointly with spouse/relative; Try to get a loan from NBFC. In conclusion: A good credit score is an extremely important tool to assess an individu