F. A.Q. on Indian Income Tax Laws!: No Rebate or Deduction IN Case Of Short Term Capital Gains On Shares or Units! 
I have short term capital gains from share trading of Rs 2,20,000. I have no other income in that financial year. I have lici of Rs 35,000 and medical insurance premium of Rs10,000 and children education fees of Rs 10,000. Can I claim rebate of Rs. 5...
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F. A.Q. on Indian Income Tax Laws!: No Exemption For Gain on Depreciable Assets!
I have purchased commercial property 1999. sold commercial property 10.1.2007. Claimed depreciation.Since claimed depreciation Whether it become long term or short term capital gain. Whether i can get benefit investing in REC Bond. Whether i can keep...
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F. A.Q. on Indian Income Tax Laws!: Interest on REC Bond Is Taxable Yearwise!
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Take Loan on REC Bond and Forgo the Exemption!
I had sold some land and so to save tax on capital gains I invested the said amount in REC bonds. It is just 6 months since I made the investment. Now for personal reasons I am in need of some money. Can I apply and get a loan from some bank with the...
-and-forgo.html
Exemption of Capital Gains u/s 54 Is Allowed Even When New Residential Property is Purchased in Foreign Country!
let us take example. Mr. X, a Non Resident had acquired a property in India. He left India and settled in USA. After twenty years, he sold the property in India for a huge sum. He wants to save on LTCG tax by purchasing a residential house , so that ...
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F. A.Q. on Indian Income Tax Laws!: Market Price As On 01/4/1981 is Cost of bunglow.
My father owns a bungalow bought in year 1974. If he sells now what would be the rate of LTCG tax. What would be the rate of indexation for the purpose calculation the tax. and How about investment in 54EC bonds etc.Please let me know in detail.chemi...
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Sorry!Capital Gains Account Scheme can't be used for purchasing Bonds.
Right Now there are no bonds in the market , either by NHAI or RECL -the two bonds specified under Section 54EC .These were issued somewhere in July 06. For people who have got capital gains on land this year, there are only two options left for them...
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You can't save on tax on LTCG by investment in Son's name!
There is no scheme in the I T Act that an Individual can save on tax on Long Term Gains by investing in son's name. In case , you want to save on tax and still want to give the Investment to your son , I would suggest that you invest in bonds of Rura...
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Land Cost is also cost for 54F Eexemption.
The land cost is part of the cost of construction for the purpose of claiming exemption u/s 54F of the I T Act. In fact, if you purchase a house even in a multistoried house, proportionate land ownership is embedded in the flat.So there is no restric...
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Download Forms for REC Bonds .Hurry!
Long Term Capital gains savings Bond issued by Rural Electricity......shall remain open upto 31/3/2007
c-bonds-hurry.html
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