Hi i gave an advance amount of 10 lakhs in Nov 2013 and got allotment of the villa with villa number from the builder I paid another 30 lakhs in may 2014 and some installments every few months however the Agreement for sale and construction agreement was franked on 10 Mar 2015 . i got Possession of the villa in November 2018 and moved into the villa after the interior was done in may 2019., i s...
I booked a flat at the cost of approx 1 Crore in Aug 2020. So, far I have paid Rs 34,00,000 as part of the part payment (paid in Oct 2020).Now, I intend to sell the flat. Let's say I sell the flat for 1.20 Cr. My query is :
1. Will this 20 lakh minus the Indexed cost be long term capital gain taking into account the Aug 2020 as the date of allotment ??
2. If answer to Query 1 is yes, then Can...
I receive foreign shares in the form of ESPP (half yearly once) and RSU(quarterly once) from my company.
1. The perquisite value shown in form 16 will be declared in the salary component.
2. The dividend received (after tax with-holding in USA) is shown under Other source of income.
3. Form 67 is submitted.
4. Schedule FSI is submitted as I have sold few shares (purchased from 20...
Hi Swarup here ! Kindly guide regarding our case of JDA capital gain.
Purchase -INR 2,00,000 ,in march 1997 .
2001 FMV - 3,20,000.
Registered JDA date : March 2015 , but due to some issues area share was revised and reduced . From 4500 sq feet to 3700 sq feet.
JDA revised ( amendment) date - Oct 2018.
Completion date: 31.03.2022.
Actual Possession received by builder - 25.08.2022.
Mother sold land bought in 1999 at a gain of 15,08,000 in 2022. The amount is placed in a capital gains account for exemption from capital gains.
Assumption: it can used only for construction in the next 3 years or buying house in next two years under 54F.
Intends to use it fully for construction from April 2023 till Dec 2023.
Now, mother is buying land for Rs. 13,50,000 consideration pric...
I am Raja, a NRI (USA Work visa holder) and I would like to know my income tax obligation in the below scenario
I am a cryptocurrency a.k.a virtual digital asset (Bitcoin, Ethereum and etc.,) trader in USA.
1) Buy the crypto currency (Bitcoin, Ethereum) in USA.
2) Send the digital currency to my Bitcoin wallet in India.
3) I sell the digital currency (Bitcoin) from my Bitcoin...
Party A (Seller) bought an Apartment directly from Party B (Builder) for Rs.70 Lacs during pre launch 8 years ago in 2014 in Bangalore and Party A deposited 1% TDS in the name/PAN of Party B for this transaction.
After completion of construction of the Apartment in 2021, Party A did not register his property and sold the Apartment to Party C (Buyer) for Rs.1.4 Crore through Assignment Agree...
I joined a housing society in 1987 bought a 1650 sq feet flat by instalments from 1988 to 1992 in delhi.which date will be considered for purchase.or date of possestion or date of draw will be considered for income tax purpose.
My total purchase price was rs 640000 n 1992.I am paying rs 3000 per year as house tax to municipal corpration with receipt. I am spending rs 4000 on electricity rs 300...
I am having a landed property in Thrissur ,Kerala. As the same is not getting sold , we are planning to start a joint venture with a builder. There will be a huge capital gain tax burden when we sell this property.
To avoid that we are planning to buy another small property with a house and remaining amount to invest in Government bonds.
But we came to know that maximum in ...
My grandfather purchased a land in 1952 & build a two stored house in that property. My grand father expired in 1964 & my father became the legal owner. My father passed away in 1983 leaving behind my mother ,myself & my elder sister. My mother passed away in 2010.Now myself & my sister has signed an agreement for JV development with a builder in 2021, in which the developer w...
A flat was booked by me in Nov 2006 and a buyer agreement was executed. As per the agreement the builder was to deliver the flat within 36 months.The payment was linked to construction. But the offer of posession was made in october 2016 after receipt of OC from the authorities.
Because o considerable delay a case was filed in the consumer court in 2014 demanding penalty as per the agreement...
1. Husband bought a flat in 2005 in Gurgaon with 100% own funds.
2. The flat was then registered jointly in Husband’s plus Wife’s name.
3. From 2011, the flat was rented out…..Even though the flat was in joint name, all the rent was included in Husband’s tax return every month. This was done since the flat was bought with only husband’s own money. Rent in wife’s name would have...
My Father Purchased a Plot of 5360 Sq.ft in 1995 and made a registered Sale deed on to my name in 06.10.2015.
In the Sale Deed of 06.10.2015, 1.26 Crore was the sale amount mentioned in the Sale Deed. However, there was no real money involved as it was a transaction between Father and Son.
On 15.12.2017, i have entered in to JDA with a builder and have got 6 flats as part of my share and sol...
I purchased a residential property jointly for earning rental income in 2015. My sister is a joint owner in this property. The property purchase was funded by my Dad who is no more now. Since 2016 we are getting rental income and I am managing the property.
For tax purpose, the 100% rental income from this property is declared in my ITR alone for last 3 years since I have been using the entire...
Good day. I sold my 1Bhk flat post 14 years of occupation and brought a 3BHK flat in an under construction property in 2014 on the 42nd floor taking care that the money taxable under capital gains Is invested completely into the new property. During sale the verbal agreement was that the possession would be in August 2017, however when agreement with builder was finally done in 2016 the possess...
Booked a flat with a builder in 2010 and he failed to deliver the flat and offered possession after 6-7 years. We had approached the NCDRC and we opted for refund and NCDRC ordered in 2018, Refund of the entire amount with compensation in the form of simple interest @11 (compensation in the form of simple interest ).
Is the interest part which is as compensation in this case taxable.
1. I (buyer) am buying a ready-to-move apartment in bangalore from seller (Cost excluding registration - 78L)
2. Seller had sales & Construction agreement for this property with builder when it was under construction in Mar-2016 (Sales Agreement - 20L Approx. & Construction Agreement - 60L Approx.). He has deducted 1% TDS for the same against builder.
3. There is only sales & construc...
I have the redeveloped flat in a co op society at kandivali..
Redevelopment project details is as under
Date of paa agreement: 13/2/2013 date of possession: 31/1/201615
date of noc: noc not recd yet date og dev agreement : 13/04/2010
Detail of flat area:- old flat new flat total
Carpet area sq ft [deleted]
Area for s duty cal' n sq ft 1129.[deleted] (purchased)
Area in sq m 104.[dele...
(a)I have booked a flat in ₹40 lacs in Feb 2015. And agreement made in Feb 2016.
(b)The date of completion of project as per my agreement was in Approx 30 months I.e, in August 2018, but the project is still ongoing and God knows when it will complete.
(c) I have made a payment of ₹10 lacs in the year 2015 before agreement and 20 lacs from 2016 to 2017 from bank loan.
(d) In between I sold a...
I SOLD PROPERTY ON 08/05/2015. After keeping proceeds for stipulated period I am on my way to pay tax.While calculating taxable property,in indexed cost of valuar based price ,I added improvement cost ,viz.addition of stairs in [deleted]/,changes and additions in house at the time of shifting in house on retirement of husband from Govt, house to this house 200000/ in 1996-97, STRUCTURAL CHANGE ...