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D Bilimoria

Category : Capital ..,
Solved
Hi,

Please review the link referring to share buybacks, which appeared in the Chartered Accountant Magazine December 2018.

http://www.sjassociates.online/wp-content/uploads/2018/12/cajournal-dec18-21.pdf

My question resulting from the above ( due to inadequate understanding)

I do not qualify '' as a sma...
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Amlan Dutta
Since securities transaction taxes have been paid, we will look at sections 112A and 111A for guidance.
For the case in point , company is listed on the Stock exchange and is doing buyback from recognized stock exchange implying...
Shriya

Category : Capital ..,
Solved
Dear Amlan,

My family facing a tricky scenario, request your help in understanding the tax implications of the situation.

We had bought a house in Bangalore in 2013, at that time we did not have funds and we had taken a loan to buy the property. The property is in the name of my dad and my 2 elder bro...
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AYUSH
Amlan sir in the above case assessse can also invest the receipt recieved from selling by available exemption 54h exemption by deposit the sum to NHAI or Govt specified bond within 6 months of selling of property
AYUSH
Thanks amlan sir
Deepjit Nandi

Category : LTCG Exe..,
Solved
Sir,
My self is Deepjit. And have a question regarding deduction u/s 54. My uncle had sell a property on 10th October,2017 having a long term capital gain of ₹1,00,00,000/- . He has purchased a flat worth ₹2,00,00,000/- having an agreement with builder to make installment payment. Upto 15th Ju...
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Amlan Dutta
Under section 54, he can claim benefit of capital gain exemption until 1 Cr and not 1 Cr plus taxes.

(refer video tab for relevant videos for the topic)
Deepjit Nandi
Sir, he had paid 1,00,00,000/- to the builder including GST as on today. I'm posting this question as, if the amount without GST is allowed then it will be less than 1 cr. And rest of the amount will be taxed as per rule. And if I can put the the amount including GST then whole capital gain will be ...
RASHMI VARSHNEY

Category : Capital ..,
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...
CHANDRAKANT PATEL

Category : Capital ..,
Solved
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...