Capital gains on old property when Inflation Index not available.
Sir, when equity shares purchased during the the year and sold in can have the benifit of indexation,why not debentures purchased and sold during the respective periods?? December 10, 6: November 2, 7: Kindly inform the amount of capital gain tax with calculations and amount for which i have to purchase tax saving bonds.
November 18, 6: November 23, Capital gain will be as follows Sale Consideration Less: December 7, 5: Hi, request a clarification that in this case how much money needs to be deposited in bonds to avail exemption on tax? Is it the amount equivalent to gain or tax? January 13, 9: Purchased a plot for Rs: Kindly calculate the capital gain.
November 24, 1: Please let me know the Inflation indexed capital gain for a property which was purchased in and sold in Based on your updates, if indexation is applied , no capital gain. January 23, Your 80 lacs is equivalent to You can show cost of acquisition as December 10, 5: Hi sir my mother has purchased one house in with rs. December 12, 9: What will be the capital gain tax with indexation? April 18, 2: Friend first of all your sales is not of long term asset Becouse indexation is only for long term asset which means you should keep the asset for more than 36 months here ur asset is is short term so capital gain for 1st mf is December 16, 2: Hello, my parents bought a flat in for about 10 lacs and spent about 4 lacs doing it up at the time.
Both parents passed away and I inherited the flat which I have just sold for 44 lacs this year in What is my taxable capital gain? And is iit the amount of the gain that can be invested in bonds and what time frame do I need to invest in bonds from time of sale of property? Any assistance you can provide will be very helpful.
Profit calculated this way can be invested in another property within 6 months of selling or invested in infra bonds for 10 years i believe. January 20, I sold a flat in Jan at Will you please adivse me what amount shall I consider for capital gain. February 13, 4: Hello, your cost of aquisation Rs. So your capital gain would be Rs. February 2, 4: February 3, 4: I want to know, whether i can buy a flat for using indexation or should i be buying a flat for to avoid capital gain taxation?
February 3, 8: Can this tax be saved if I 1 Invest in an under construction apartment to be completed only by ? February 10, 1: February 11, 8: I purchased a property in Nov, at a price 86L more then the property 1st house I sold at 63L in Jan, Will i be still liable to pay capital gain tax or covered under the property I purchased a year back?
February 15, 9: February 18, 5: I understand that to avoid tax on capital gain I need to invest this amount in new property. Here my question is do I need to provide this investment related documents to income tax. And also please help me to provide more details from NRI perspective.
February 19, 9: Dear Friend, Capital Gain is calculated only when you sell the property.. And the capital gain will be Sale Price minus the Indexed Cost.. For example if you sell the Property for 6,,, then your Capital Gain will be , 6,, — 5,, And in case if you sell the property for 5,, you wont get any capital gain..
If you have capital gain you need to invest them in a property or you can deposit the money in a capital gain account scheme at a bank recognized by the Government of India..
February 25, I had purchased a semi-finished house from a housing society Rs. The amount was paid in installment in February 27, If I invest a capital gain from sale of residential house into the purchase of Agriculture land within Municipal Corporation or outside municipal corporation and build a farm house.
Is the same exempt from capital gains tax. March 3, 2: She was an Indian Citizen at that time. Rs 1 Crore, Sixty Lakhs. Please advise on following: March 11, 1: I purchased a House in at 3. April 10, 4: May 2, Or do they want just a statement of expenses without any pucca receipt particularly for labour charges, transportation of goods etc.? Its a long term capital gains since the period of holding is more than 3 years. If your income from all the other sources is less than Rs. April 29, 7: May 21, 4: June 17, 5: May 27, I bought a flat for 27 lakhs in May and now I am planning to sell for 38 lakh.
How much do i need to pay as tax? June 27, 7: I think you can help me! I bought a residential plot land in for Rs. I sold it in at 16 Lakhs. Further I bought a residential land for Rs. Can the capital gains be set-off against new land purchase else what is my liability. July 2, I had Purchased open plot on 18 day of Dec. May 30, 6: Please let me know how much will be my capital gain tax.
I am planning to buy another property in next months hence please let me know how long I can hold my money and not to pay tax. June 24, 6: I booked flat in march Now I have a purcheser for Rs. If we use entire capital gain amount in paying to developer for a flat already booked in oct in the names of my wife and myself and possession of same is expected in can it be allowed.
Thanks in anticipation of early reply. June 3, How can we calcite price of acquisition and capital gain tax. June 8, 6: Purchased a flat for investment purpose and recently got possession of the same. What would be the date of acquisition? Date of allotment or date of possession or date of registration [yet to be done]. June 23, 6: September 10, 4: My father bought a site in for Rs.
He died in Mutation was done in one of the three brothers name A. This land was sold in FY for Rs. The sale Deed mentions the sellers name as A. The other two brothers do not wish to claim the share in sale amount.. My father purchased a residential property in for RS 98, July 15, 9: You have to get the that property valued by registered officer as on Suppose the authority says the value of the said property on 1.
Capital gain is about July 17, 6: I want to sell the property if a proper buyer approaches. In this case bank will only return the money after deducting the reminder of loan. Since that being the case, What will be the selling price of the property?
Is that the actual selling price or the amount that is left in my bank account after the loan reminder is deducted by the bank. August 15, 6: They are for days. September 9, 3: Thanks for useful information.
Would you be able to retrieve this data? November 11, Inflation index was not applicable for You have to estimate the market value in and apply the index of on that. November 25, December 14, 3: I am planning to sell my house which i acquired in April booked in August and occupied in April at INR 25 lacs. It will possibly sell now for INR 1. What would be the capital gains on this transaction if i do go ahead? For the amount that is not counted as capital gains , may i imvest it anyhwere bank , stocks , FD etc?.
February 14, 3: Purchased a land on 23rd November sold it in January Purchase and sale price and respectively. March 11, 6: February 17, Sir, my father booked a commercial office in And paid about Rs. But the building was not completed for more than 20 years and recently it got completed. Now we want to sell this property and we are four siblings to our father.
There is no will and we want to sell and give a major portion to our sister. What will be the capital gains tax to each of us.
February 19, 7: Residential property in Aurangabad Maharashtra purchased in for Rs. Addition of two rooms in the property in at the cost of Rs. How much capital gains tax would be and what would be the tax I would have to pay and to nullify the total tax payable, how much capital infra structure bonds need to be purchased.
I am 70 yrs old, Immediate advice would be highly appreciated. February 26, 5: January 17, New House construction must be completed with in three years from date of transfer of old House i. New house can be purchased with one year before and two year after date of transfer of old house i. You May save capital gain Rs: I have purchased a house in for Rs. Please guide me how much tax i have to pay if i will sale the said property in Rs.
Pl send your reply on my email. March 16, March 2, Sir, My father purchase house in the name of my Mother in Rs. Now my Mother and Father both died and i transfer property in my name in Now i decide to sell out property which market value is Rs. Please guide me weather Capital Gain is applicable to me. If applicable the how much i have to pay CGT on sale of property. March 25, 6: If the Indexed cost is matching to Selling price, do we have to do something like filing zero return etc.?
April 5, 9: What is the meaning of index cost of acquisition? Why index cost is calculated if purchase price is given. May 12, 6: Cost of the Land Rs. Date of Purchase of Property Nanganallur.. May 19, 4: I intend to sell this apartment in next 20 days.. I have bought one more apartment presently residing as on 13th June I intend to repay Rs: May 25, 1: I wish to know information on the following.
I intend to sell my apartment at Bengaluru for a consideration of 40 lakhs. What would be my indexed appreciation? I also would like to pay portion of this sale consideration towards the loan availed from financial institution towards my new property registered on June 8, 7: Yes you can pay the amount of this sale consideration if new property acquired is also residential….
July 31, Dear Mr Gupta Thank you for your reply. I shall continue to pay the balance in EMI. Kindly help me whether I will be exempted, considering my new property is valued 48 lakhs including registration of which loan is 35 lakhs Kindly help. June 17, 6: Purchase in Rs. July 13, 9: Trying to sell it now, wbich may fetch around 65 to 70 lakhs.
What would be the capital gains. Plot Purchase in Rs. December 25, 5: You can save Capital Gain by investing capital gain amount Rs: June 18, 5: June 22, 9: I was just calculating the long term capital gain on Sale proceed of Rs. June 22, 2: July 9, 4: I purchased property in the year August 11, 8: July 13, 3: July 22, 6: Sir I purchased a flat in Hyderabad in for total of Rs.
Therefore, my total purchase amt in was Rs. However, the sale deed has the purchase price of Rs 21 lakhs. I have paid annual property tax of around Rs. Now I plan to sell the flat for Rs. July 25, 4: Total agri land holdings are 45 acres. An item of acres are under contemplation of sale. Liklely price is Rs. The land is within 2 ksm radius from the radius of limits of the nearby by municipal town having a population of people.
The land is ancestral having passed on from generation to generation. P got the half of acres by partition in the yeaar and rest common half from his paternal grandfather by registered settlement in the year or That in the original partition fo the year both were common owners of the property. P and R were married in and U was born in All three of has pancard and their HUF has its pancard too All three of us have individual Bank account. The HUF has opened its bank account too.
That is HUF or individual? Will there be any additional tax to the capital gain. And later say after a week father himself sells his common half to the same buyer and if so can the capital gain be apportioned between them? What are the ways to minimise the capital gain.
Say, can it be invested in any government securities and claim tax exemption? Can the capital gain be invested in acquisiiton house or land? March 11, 3: So, please consult one. July 28, Which financial year shall i take as year of purchase? I have no bill. Can this be added in the cost of acquisition. Similarly, i spent money on buying some loose furnitur as well as ACs for giving my flat on rent as fully furnished.
Can this cost be also included in the cost of acquisition. I have some bills in this case. August 21, December 20, 1: January 17, 1: September 12, 4: I purchased agricultur land in august within the municipal area. In year September i sold this property. I also purchased agriculture land in February Can i take advantage of capital gain investment in this property? October 4, 4: We have a ancestral property which was in my fathers name.
As my father died we got the property transferred to my mother and brother and sisters names, by way of succession Deed. If I sell this property today which would fetch me 1.
December 6, 7: If it is ancestral property all the beneficiaries would be liable for capital gains tax according to their share.
The CG tax will be distributed among the beneficiaries. December 15, 9: I bought a flat in for 22 lakhs and sold it for 40 Lakhs in What does that mean for my taxes? February 29, 1: December 19, 2: My Father got the property settled in thru settlement deed from his sisters who in turn got inherited from their father in March 21, 2: I have sold a plot in March This Plot was purchased in September My question is Long term capital gain tax on sell of Plot would be exempted as i have registered second home in March itself.
I mean Purchase of second property will be counted from date of booking Date of Builder-Buyer Agreement or date of Registration and Physical Possession?
April 20, 6: In the year i sold that land. July 2, 6: May 6, 8: I got possession of a flat from the builders in Can I claim indexation on each payment made from the date of payment till date of sale for calculation of capital gains on sale of property.
Can i please get a clarification. August 4, 1: DEar sir, i have purchase a 2bhk for 2. August 8, I Bought a small flat in in rs. Now after an order of supreme court the flat is demolished by regional authority and on supreme court order I received a compentation of rs.
Kindly inlight me if compentation money will attaract capital gain if yes what is the amount I need to invent in capital bond and how? September 13, 3: September 15, 1: December 30, 8: Veeresh, I am selling the commercial open land of sqft. February 2, September 26, 4: November 18, November 27, 6: December 26, 4: December 26, If a house purchased in Jan for 8 lakhs and availed bank loan of 20 lakhs for construction loan amount was paid to seller by bank , paid 10 lakhs to bank in last rears including 1.
If the property was sold for 51 lakhs in Jan Pse calculate the tax to be paid. January 3, 2: It is described very simple way any time you read this article you can clear your doubt about cost inflation index. April 21, 5: I purchased a flat in April for Rs. What is my CGT? February 6, 6: Sir,my uncle purchased a flat on august of Rs and sold on sep of Rs March 17, 7: April 24, 6: Full consideration of House paid in , Possession given in , Registration done in Please let me know from which date to calculate indexed cost of acquisition purchase.
May 25, 5: Please comment on calculation of indexing purchased property for Rs. May 27, 6: For properties sold upto July 22, 1: June 15, 9: June 27, I purchased a 2BHK flat in at cost of Rs 1, Now I want sale it at cost of Rs I have two questions to asked: My tenure for holding property covers both tables i e to July 15, 5: How to know the market fair value as on July 18, For inherited property of bought for 3 lacs not sold on 31st may for 90 lacs what will be the indexation calculation?
July 20, 9: July 23, 5: I have purchased a plot on and sold on July 25, 6: My mom has sold a plot and she is transferring the entire amount for me to construct a house whose plot is registered in my name. So should my mom have to pay tax for the capital gains? September 3, September 28, 7: October 3, 5: Now she wanna sell that on 24lks.
How she can calculate the valuation of and of that plot?? How to calculate capital gain and where to invest?? October 7, 9: I have purchased a plot in for Rs. If possible send me calculated figures for the same on mail. October 16, 6: Sir i purchased my flat in f. Will the receivable interest be taxable? October 21, 9: October 31, 8: My father inherited property worth 20, in After his death in , I inherited the same.
What is the long term capital gain. November 9, 9: Sir I recently sold my flat for Rs. What is the indexation on this amount.
Also what is the amount of investment in bonds that I need to do for this indexation amount and what is the time period. November 21, 2: I bought a flat in for 12 lakhs and sold it in for 90 lakhs.
How should I calculate the cost inflation, whether according to the old index starting from the year OR according to the new index starting from OR according to both? Am I eligible for indexation for the years prior to ? Can I calculate the cost inflation from to as per the old index and from to as per the revised index? November 25, 9: November 29, 2: New index to be followed. Its mentioned that assetes prior to fair market value to be applied.
Is it justified using old index till from date of purchase to obtain fair market value as on Or recknor rate in is fair market value. Which method to obtain n justified. November 30, 1: My grandfather bought a house at 9, in included registration charges.
Now its around 2cr and i want to sell it, how will i calculate the long term Capital Gain. December 19, 8: Purchased the flat Rs. The Sale proceeds were shared between me and my son equally. Please inform me what is the calculation for Capital Gain Tax and how much we need to pay the Tax we both. How to know the Cost Inflation Index value as on December 19, 9: Sir, I purchased a house by paying instalments from the year Provisional annual inflation rate based on all India general CPI Combined for November on point to point basis November over November is The corresponding provisional inflation rates for rural and urban areas for November are Inflation rates final for rural and urban areas for October are The WPI measures the price of a representative basket of wholesale goods.
In India, this basket is composed of three groups: Food Articles from the Primary Articles Group account for The most important components of the Manufactured Products Food products This makes it more timely thanlagging and infrequent CPI statistic. However, since it has been measured monthly instead of weekly.
The challenges in developing economy are many, especially when in context of the monetary policy with the Central Bank , the inflation and price stability phenomenon. There has been a universal argument these days when monetary policy is determined to be a key element in depicting and controlling inflation.
The Central Bank works on the objective to control and have a stable price for commodities. A good environment of price stability happens to create saving mobilisation and a sustained economic growth. Rangarajan points out that there is a long-term trade-off between output and inflation. He adds on that short-term trade-off happens to only introduce uncertainty about the price level in future.
There is an agreement that the central banks have aimed to introduce the target of price stability while an argument supports it for what that means in practice.
It arises as the basis theme in deciding an adequate monetary policy. There are two debatable proportions for an effective inflation , whether it should be in the range of 1—3 per cent as the inflation rate that persists in the industrialized economy or should it be in the range of 6—7 per cent. While deciding on the elaborate inflation rate certain problems occur regarding its measurement. The measurement bias has often calculated an inflation rate that is comparatively more than in nature.
Secondly, there often arises a problem when the quality improvements in the product are in need to be captured out, hence it affects the price index. The consumer preference for a cheaper goods affects the consumption basket at costs, for the increased expenditure on the cheaper goods takes time for the increased weight and measuring inflation.
The Boskin Commission has measured 1. The commission points out for the developed countries comprehensive study on inflation to be fairly low. There is a puzzle formation between low-rate inflation and a high growth of money supply. When the current rate of inflation is low, a high worth of money supply warrants the tightening of liquidity and an increased interest rate for a moderate aggregate demand and the avoidance of any potential problems. Further, in case of a low output a tightened monetary policy would affect the production in a much more severe manner.
The supply shocks have known to play a dominant role in the regard of monetary policy. The bumper harvest in —99 with a buffer yield in wheat, sugarcane, and pulses had led to an early supply condition further driving their prices from what were they in the last year. The increased import competition since with the trade liberalisation in place have widely contributed to the reduced manufacturing competition with a cheaper agricultural raw materials and the fabric industry.
These cost-saving-driven technologies have often helped to drive a low inflation rate. The normal growth cycles accompanied with the international price pressures has several times being characterized by domestic uncertainties. Inflation in India generally occurs as a consequence of global traded commodities and the several efforts made by the Reserve Bank of India RBI to weaken rupee against the dollar.
This was done after the Pokhran Blasts in According to some experts the policy of RBI to absorb all dollars coming into the Indian economy contributes to the appreciation of the rupee. The RBI picture clearly portrays for subsidising exports with a weak dollar-exchange rate. All these account for a dangerous inflationary policies being followed by the central bank of the country.
There are several factors which help to determine the inflationary impact in the country and further help in making a comparative analysis of the policies for the same.
The major determinant of the inflation in regard to the employment generation and growth is depicted by the Phillips curve. It basically occurs in a situation when the aggregate demand in the economy has exceeded the aggregate supply.
It could further be described as a situation where too much money chases just few goods. A country has a capacity of producing just 5, units of a commodity but the actual demand in the country is 7, units. Hence, as a result of which due to scarcity in supply the prices of the commodity rises.