Mr. Basant Jha Vats
JHA CONSULTANCY SERVICES (Complete Corporate Advisory)
Address:-
Delhi-109, Shri Balaji Complex, Main Road Pandav Nagar, Delhi-110092
Patna- C-801,Nandan Tower, Kankar Bagh Mor, Patna-800020
Call us at- 01122483110, 9310350503
E-Mail - jha.basant@gmail.com, jha.basant@taxqueryindia.com
OUR TEAM OF EXPERTS:
Mr. Basant Jha [Income
Tax Expert]
Mr. Ranjeet Jha [NGO
Expert-Bihar]
Mr. Jainendra Jha
[ROC Expert-Mumbai]
Mr. Manoj Goyal [Audit
Expert]
Mrs. Manvinder Kaur [VAT & Service Tax Expert]
Mr. Ranvijay Thakur [UP VAT Expert]
Mr. Dipak Kumar
[Management
Consultant]
Mr. Pushpendra Kumar
[IPR Expert]
Mr. Anand Jha [Marketing
Expert]
Mr. Shishir Kuamr
[ROC Expert]
Dear Sir,
ReplyDeleteI booked an under-construction residential apartment in Bangalore by paying booking amount of 2 Lacs, in Nov, 2011. The rest of the booking amount i.e. 20% minus 2 lacs had to be paid once the project gets approval from any PSU bank, and accordingly I paid 8.5 Lacs in Apr, 2012. I kept paying other construction linked installments to the builder on my own, and signed / executed the formal agreement with the builder in Apr, 2013 before applying for my housing loan. Registration has not yet done and I wish to sell this property and re-invest the whole money in any other residential apartment in Bangalore itself, but I understand that there will be short term tax implication if I do so now.
As there are 3 major dates in this transaction thus which one shall I consider for calculating the waiting period of 3 years, to avoid capital gain.
Regards,
Nishant Kashyap
9620822262
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
ReplyDeleteUS residential investment property
Dear Sir,
ReplyDeleteMy parents made a home year 1982 on his own land and now they are Senior Citizen and want to sell it because I and my brother lives in other city and we both are working in different company, My annual income is 6 Lacks and my brother's Annual Income is 8 Lacks.
please let me know how much income tax to be pay, A purchaser told them that he will buy in Rs. 50 Lacks on paper and reaming money he will give without paper. But my parents denied to take in this way. So the deal could not possible. Please suggest us how much income tax to be pay on sell of house ot Rs 50 Lacks or on 100% pay on paper, like 1 Crore. because My parents want to make one other new house on other his own land that will cost approx 20 Lacks, and remaining Rs. 26 lack they want to fix for their own expenses to live, and other money either they want to invest or will give to me and my brother.
We are confuse should they sell or not, because there is no any other income sources, they are getting pension Rs 10000 + Rs 8000 getting house rent from renter. Parents are confuse should they invest in other land at other place or what to do this money. and how to save income taxs..
May i get your suggestion on my id KARAMRBL@GMAIL.COM
I have a query regarding tax deduction on referral bonus received from my employer. Want to know whether this is taxable and if yes, under which section of IT Act. Please provide your response on sameer14529@gmail.com
ReplyDeleteI realize that there is a lot of confusion and non clarity in a property purchase or sale transaction, for assessing Long Term Capital Gains, as I have received several answers from different CAs or so called experts. Or is it different across different jurisdictions of the Assessing Officer?
ReplyDeleteCan you please advice me which of the following key dates is considered for assessing the Long Term Capital Gains Tax holding period:
1) Date of Acquisition of the property (Date of the Purchase Deed);
2) Date of Registeration of the said property;
3) Date on which the OC (Occupation Certificate) is issued;
4) Date of possession of the property;
5) Date of Occupation of the property (Actual Date of moving-in)