Capital gains assessment out of sale of flat

1. Date of purchase and sale is deleted. Please write in this format 05 July 2019.

2. Yes, you can purchase NHAI/REC bonds upto Rs. 50 lacs from the date of the transfer of the asset and you need to invest only the capital gain.

3. Yes, remaining amount can be invested in the FD in your wife name but clubbing provisions will be applicable for interest income.

4.No

5. No

Dates are missing in your question. Please see the question again. How can i calculate the indexed cost of acquisition without date of purchase and sale?

The dates are deleted. Please mention in the full format so that capital gains can be computed.

NHAI/RECS tax saving bonds can be purchased within 6 months from the date of transfer. 

Yes. you can invest in your wife's name but however it would be clubbed to your income.

There wont be any issues with the IT department and there is no need of furnishing any certificate for IT purpose.

Dear Sir,

Hope you are doing well !!

1. For capital gain calculation, we need the sales and purchase date which is deleted in above your query due to technical errors.  

Please share the same in this format - 05 July 2019 .

2. Yes,you can claim tax exemption by using the amount you gain from selling an asset to buy bonds issued by NHAI and REC.The bonds should be bought within 6 months of the sale of the asset. The maximum amount you can invest in this way is Rs. 50 lakh. However, it will lock your money for 5 years.

3.Yes, you can purchase it in your wife name.

However, clubbing provision will be applicable on said arrangement.

4.No.

5.No.

Sir please mention the date of purchase and sale as same have been deleted.

Yes sir you can invest in bonds of nhai/ recs but it's investment term has been changed to 5 years.

You can purchase in your wife name but the income would be clubbed in your name since you are gifting it.

No issue arises to IT dept.

No no certificate is required.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Please call me 

Again, the dates have been deleted.

Please share the same in this format - 05 July 2019 .

Sir please mention the date without using any "-" and describing month in words.

It is getting deleted.

Hello,

1. To calculate the capital gain. we would need purchase and sale dates. Kindly provide the same for the exact amount of capital gain.

2. Yes, you will exemption from capital gain for the same. It comes with a lock-in period of 5 years.

3. You can invest it in your wife's name, but interest income of such FDs would be clubbed in your hands.

4. No.

5. No.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Please mention the dates in this format - 1 Jan 2019 or take phone consultation for better resolution.

Hi

1. Since year is not reflected here,exact calculation cannot be done.

2.yes

3. Bonds to be purchased on name of seller  only in order to claim exemption.

4 & 5. No

hope it helps

Hi

1. The dates of purchase and sale are not deleted. Please use appropriate format like 1 July 2019 so that we can calculate capital gain tax.

2. Yes. You may invest in eligible bonds under section 54EC and claim capital gain exemption.

3. Yes. Remaining money can be invested as per your preferences. Please note there would be clubbing provisions applied if you invest in your wife's name.

4. No.

5. No. Only ITR needs to be filed.