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1. Deduct the following:
Expenditure incurred wholly and exclusively in connection with such transfer
Indexed cost of acquisition-
Indexed cost of improvement-Cost of improvement is the capital expenditure incurred by an assessee for making any addition or improvement in the capital asset. It also includes any expenditure incurred in protecting or curing the title. In other words, cost of improvement includes all those expenditures, which are incurred to increase the value of the capital asset.
2. It is 20% plus applicable surcharge & cess of LTCG.
3. In order to claim the exemption under section 54F which covers long-term capital gains on assets other than residential house, you should not own more than one residential house other than the one you are acquiring on the date of sale of the other asset. So in case you own more than one house on the date of sale of the asset except the house in which you are investing the long-term capital gains, you can not avail the capital gains tax exemption by investing in a residential house under section 54F.
Now, you can claim tax exemption by investing long term capital gain amount in Specified Bonds, such as those issued by NHAI and REC, which are redeemable after 5 years, provided the capital gains are invested within 6 months from the date of sale of your residential house.
4. The Income Tax does not allow Loss under the head Capital Gains to be set off against any income from other heads – this can be only set off within the ‘Capital Gains’ head. Long Term Capital Loss can be set off only against Long Term Capital Gains.
Yes, you can offset the LTCG against LTCL (loss) from sale of mutual fund holdings or sale of another hosing property. If you are not able to set off your entire capital loss in the same year, both Short Term and Long Term loss can be carried forward for 8 Assessment Years immediately following the Assessment Year in which the loss was first computed.
5. Yes, you can claim the same. This will also reflected in form 26AS.
In order to avoid any mismatch, please file the ITR as per form 26AS.