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LTCG ON SALE OF HOUSE
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,...- ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
- 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...
- Planning early retirement at 50 with a Rs 12.5 crore corpus? Expert explains how to generate Rs 2 lakh monthly incomeAn investor planning early retirement at 50 with a Rs 12.5 crore corpus seeks expert advice on generating Rs 2 lakh monthly income. The exp...
- 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...
- Wife sells house for Rs 2.85 crore, buys new one with husband, pays zero income tax, wins ITAT Mumbai casePayal sold her old house jointly owned with her husband. She reinvested the proceeds in a new house. She then claimed tax exemption. The In...
- Even if you made zero capital gains income from sale of property you still need to pay tax in this situation; CA explains whyRecent changes in India's income tax law, specifically the Finance (No. 2) Act, 2024, impact property sale transactions. Even with zero cap...
- Capital gain tax ready reckoner: Listed equity, unlisted equity, gold, house property, and other assets for ITR filing FY 2024-25 (AY 2025-26)Latest Capital gain tax rules: The capital gain tax rules were changed in the mid-year from FY 2024-25 (AY 2025-26). Due to this, a taxpaye...
- No LTCG tax on Rs 1.32 crore house bought only at Rs 45 lakh: Homebuyer wins LTCG tax exemption case at Delhi ITAT after 7 years fightA homebuyer faced legal and tax challenges after buying a Delhi property, including a dispute over the sale agreement and issues with incom...
- Husband wife duo wins Rs 1.3 crore long term capital gains tax exemption case under Section 54 despite selling two houses to buy a joint property; ITAT Mumbai caseThe ITAT Mumbai ruled that a wife is eligible for a Rs 1.3 crore Section 54 LTCG tax exemption on a property sale, even though the new prop...
- 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...
- LTCG tax on sale of house: Can you add home loan interest to property purchase price to cut capital gains tax?LTCG tax rate on property sale with no indexation: If a taxpayer does not avail of the Section 24 deduction of Rs 2 lakh on interest paid o...
- Date of house possession key for tax benefit under section 54 says ITAT; all you need to knowSection 54 tax benefit: The Mumbai bench of the Income-tax Appellate Tribunal (ITAT) clarified that the date of possession is crucial for c...
- Planning to save LTCG tax by buying new house? Govt extends time limit till March 31, 2023The Central Board of Direct Taxes (CBDT) has issued a circular on January 6, 2023, to extend the time limit to claim tax exemption under se...
- Can I get rebate of Rs 12,500 against tax paid on long-term capital gains on equity?An individual cannot claim rebate under section 87-A of the Income-tax Act on the tax payable on the long-term capital gains on the sale of...
- My wife and I are senior citizens. Can I claim tax sops for medical treatment under Section 80DDB?The deduction under section 80DDB can be claimed only by the taxpayer who is a resident of India during the relevant previous year.
- Budget 2019: LTCG from sale of house can be invested in two housesOnce the budget proposal is passed by the Parliament, this would mean that a taxpayer can save tax by investing the gains in two residentia...
- Do I need to pay income tax on the plot I sold to the government?"If the plot was not rural agricultural land, you will have to pay long-term capital gains (LTCG) tax. "
- Planning to invest LTCG in Sec 54EC bonds to save tax? Do it before 31 MarchYou should invest in 54EC bonds before 31 March 2018 as bonds issued after this date will have to be held for a minimum of five years.
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