I am 78. I sold a shop I purchased in 1999 for ₹2.40 Lakh and spent ₹1 lakh on better looks and convenience in 1998. I am planning to sell it for ₹18 lakh in August 2024. Can you advise me how much the capital gain will be?How can I save the tax? As the … Read more
The recent amendment to the Finance Bill, which offers the choice of a 20% LTCG tax with indexation or a 12.5% tax without indexation for property deals before 23 July, is a welcome change. This move marks a U-turn from the finance minister’s announcement in the Budget 2024 to remove indexation. However, the amendment should … Read more
My father-in-law had a residential house in Jodhpur. He had eight children. After his death, my wife got 1/8th share in 2010. She passed away in 2017, and after her death, ownership rights of her share were transferred to me and my two sons. We have sold our shares for ₹1.02 crore and have received … Read more