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RASHMI VARSHNEY

Capital Gains exemption...
2 hours ago Unsolved
If a person uses gains from property sale to repay loan , is it still subject to tax?
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Amlan Dutta
Sale from property would be capital gains......one has to pay tax on capital gains unless one makes use of the capital gains in capital gain exemption schemes listed under section 54 ( you may like to see our videos on youtube on how to save capital gains tax ) ...using capital gains to repay tax wo...
  • 44 minutes ago
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ELANGO

Capital Gains...
Hi Amlan

I am govt. salary employee and so far i filed ITR-1. I have shares and I wish to sell some in LTCG.

My questions are,
1. How to calculate LTCG?
2.Is there any online calculator?
3.Which ITR form can I use?
Please update new ITR Filling videos in English for FY 2017-18.
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Amlan Dutta
See , if it is LTCG from stocks , it would be mostly exempt (For gains above above 1 lakhs , there would be 10 % tax liability ) ...you can simply put in relevant schedule of Capital gains and it shall automatically compute taxes for you .

The ITR return utility itself computes the tax for you.
If t...
  • April 25, 2018
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CHANDRAKANT PATEL

Capital Gains exemption...
Sir My father is 82 Years old and retired from central govt. he is getting pension of Rs.39500/- per month as per new pay revision.1)

My Father has received Rs.453431 as pension for financial year 2016-17 and Rs.423673 as Arrears.
Total Income including arrears becomes Rs.877104.

Further the ban...
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Amlan Dutta
No , you cannot bifurcate arrears , you will add it to pension and show it under income chargeable under salary/pension ...however your dad shall be eligible for some tax relief under section 89(1) read along with Rule 21A on arrears ( check my tutorial for that )

Compute the capital gains arising f...
  • April 19, 2018
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