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Can me and my wife claim LTCG tax exemption on gains from residential property sold in 2025?ET Wealth Reader's Query: In 2025, I sold a residential property, which was purchased in 2008 in the joint names of my wife and I. However,...- Kolkata woman made Rs 26 crore profit in stocks and paid zero tax: Here's how she did it legallyA Kolkata businesswoman, Saroj Goenka, legally saved ₹26 crore in taxes by reinvesting long-term capital gains from share sales into constr...
- Tourism and hotel sector stocks: Time for a correction in business? Are analysts getting it wrong? 15 stocks from the ecosystemThe Indian hotel and tourism ecosystem has benefitted from the post-Covid travel urge. Occupancies were high, room rates firm, supply is, i...
- Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...
- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Can I claim LTCG exemption in same year if I buy a property before selling existing one?ET Wealth Reader's Query: Will buying an apartment before selling the existing one still allow me to claim long-term capital gains exemptio...
- Why You Should Never Store Potatoes in the FridgeRefrigerating potatoes is a common mistake that spoils their flavour and texture. Cold temperatures convert starch to sugar, causing bitter...
- Man sold land for Rs 3.21 crore, denied tax relief under Section 54F: Why ITAT Pune allowed full tax exemptionA Pune man successfully challenged the Income Tax Department, securing a full tax exemption on his Rs 3.21 crore land sale. Despite a techn...
- Selling mutual funds for a joint home? Here’s what Section 54F saysSpouses selling two houses to jointly buy one property can claim the Section 54F exemption proportionally, even if the new property is unde...
- Lady sells listed equity shares for Rs 26 crore and constructs house, pays no capital gains tax; ITAT Kolkata rules in her favourA woman successfully claimed capital gains tax exemption on Rs 26 crore from selling shares. The Income Tax Appellate Tribunal in Kolkata r...
- How to pay zero or lower income tax on your residential property sale using Sections 54 and 54FIndian income tax laws offer exemptions on long-term capital gains (LTCG) from selling residential property and land. Sections 54 and 54F o...
- No income tax for lady who sold land for Rs 4.5 crore; Know how a 1955 circular and established case laws saved the day for herSeema S sold property in Patna. She incorrectly claimed Section 54 for LTCG tax exemption. The tax officer rejected her claim. Seema appeal...
- 90 crore tax deduction approved! Delhi HC allows 54F income tax deduction for buying multiple floors! Here's what it means for youIn a decision bringing clarity to Section 54F deductions under the Income Tax Act, the Delhi High Court has clarified that owning multiple ...
- When to use Capital Gains Account Scheme to save income tax if you made long-term capital gains after selling land, property, equities, etc.?Capital gains: Both Indian residents and NRIs can use Capital Gains Account Scheme (CGAS) to save paying capital gains tax on long-term cap...
- Delhi HC denies capital gains tax exemption u/s 54F claim by a widow who bought two non-adjacent flats in NoidaSection 54F: This section allows individual and HUF taxpayers to save tax on capital gains arising from the sale of a long-term capital ass...
- Buying house by selling equity shares? Here’s how you can claim tax exemption for LTCG on stocks soldSave LTCG tax on equity: To finance the down payment for buying a house, many people sell their assets such as equity shares, equity mutual...
- Budget 2024: Zerodha's Nithin Kamath wants govt to add additional exemption in capital gains taxSection 54F of the Income Tax Act offers an exemption on long-term capital gains earned from selling assets (excluding residential houses),...
- Last min window to save LTCG tax sees surge in registrations of luxury properties; deduction to be capped at 10cr from Apr 1As per Explanatory memorandum for Budget 2023, the provisions of sub-section (2) of section 54 and sub-section (4) of section 54F that deal...
- It’s taxing: Selling assets and buying a new house? Beware of the tax pitfallsWhen a taxpayer earns long-term capital gains from any asset (other than a house), the I-T on the gains can be saved by taking the benefit ...
- Can’t deny tax relief to buyer if builder delays flat delivery: Income-Tax Appellate TribunalThere is no capital gains tax if the purchase price of the residential house in which the reinvestment is made exceeds the sale proceeds.
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