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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...
  • 49 minutes ago
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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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