Claiming Basic Exemption Limit Against Capital Gain Income | CA Anoop Bhatia
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- Опубліковано 21 сер 2024
- Tax Planning Course: taxplanningfor...
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. नमस्कार दोस्तों, कैपिटल गेन पर इनकम टैक्स की गणना में एक महत्वपूर्ण प्रश्न करदाताओं के समक्ष आता है की क्या कैपिटल गेन इनकम में से बेसिक एक्सेम्पशन लिमिट की छूट मिलेगी अथवा नहीं। अत : यह वीडियो आप तक इसी प्रश्न का उत्तर तार्किक रूप से लाने का प्रयास है। आशा करता हूँ, आप इस वीडियो को उपयोगी पाएंगे आपके बहुमूल्य कमैंट्स एवं सुझाव सादर आमंत्रित हैं ।
Dear Friends, while computing the tax liability on capital gain income and important question also arises in the mind of taxpayer whether he is eligible to claim benefit of basic exemption limit on such income or not. This video accordingly is an attempt to bring before you the answer to the relevant concept in a logical approach. Hope you will find it worth watching. Your precious comments and suggestions are most welcome.
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Agar short term gain and long term gain ke baad income 2.5 lakh se kam hai toh kya ITR BHARNA compulsory hai ?
Pata chlaa
Abhi tak nahi
Sir your way of explanation is convancible .. I haven't met versatile personality like you .. We are really lucky to have you as mentor.
Thanks for kind words.
सर आपके समझाने का तरीका बहुत ही पसंद आया आज से पहले किसी ने इतने अच्छे तरीके से नहीं समझाया सर मेरी इनकम बिजनेस से 1 लाख सालाना है और अगर मैं डेढ़ लाख शेयर ट्रेडिंग से शॉर्ट टर्म में प्राप्त कर लेता हूं तो टोटल सालाना इनकम 2.5 लाख हो जाएगी तो क्या मुझे टैक्स नहीं देना होगा यह 20% टैक्स शॉर्ट टर्म देना होगा मुझे पूर्ण विश्वास है सर आप एक अच्छे इंसान हैं आप इसका जवाब जरूर देंगे मुझे आपके जवाब का इंतजार रहेगा थैंक यू वेरी मच सर आपका एक्सप्लेनेशन बहुत पसंद आया
Thanks CA Bhatiya ji.
Ofcourse I couldn't get content fully, due to non financial background. But you have explained the topic very well😊
You are most welcome
Sir mutual funds LTCG is 200000 and LTCG exempt upto 100000 and after that Taxable LTCG is 100000 which is below basic exemption ei 2.5 lakh therefore no tax, kya aisa ho sakta hai kya sir, assuming no other income.
Please suggest
You are very articulate in your explaination.Thank you very much
You are welcome!
Can you please explain the same with example under new tax regime for STCG?
Very appropriate video. Just in time before filing the ITR. We are highly obliged to you for your videos. We pray in this auspicious Navratra that Ma Durga bless you and your family with health, happiness and peace of mind 🙏🙏 🙏
Thanks for kind appreciation
Thank you sir, have been a fan of your TO THE POINT videos 💯❤️ Keep enlightening us. Thank you for ur efforts. May God keep u healthy and happy always. 👍🙏
Thanks for kind appreciation and blessings.
Bahot hi accha aur important topic sir ! Vary grateful to have come across your channel. Thank you sir.
Thanks and welcome
Thanks for making this ❤
My pleasure!
Thanks
waah waah waah sir kya padhae h sir app thanku
Dhanyavaad :)
Thankyou sir ❤
Very relevant topic explained in a simplified way with example
Thanks Anita ji.
To the point. Everything. No doubts. Thank You so very much.
Thanks.
Sir Please clarify my query,
Sold a property on my name on 3.6.2022, and have a net LTCG of Rs 31lacs.
-Purchased a flat, for rs 74 lacs, in jointly with my daughter. In oct 2022.
TDS @1% was remitted on the sellers pan , ie 37 lacs each, by self and daughter.
The tds is reflecting in the 26AS, of self and daughter.
The extra amount for purchasing the flat, was from my retirement benefits., post my superannuation
Question/ Query is: While filling my ITR 2, I need to the purcsahe price of the flat as Rs 73 lacs, and set off the LTCG of Rs 31 lacs.
Pl clarify my doubt sir.
Thanks in advance Jyothi
Well explained sir, could you please explain this concept via New regime for AY 2024-25 ?
Great information sirji 🙏🏼🙏🏼🙏🏼
Thanks for kind appreciation
Will GST/TAX be applicable on a Gift (CD/DVD Game) if my Freind is Giving me the Gift from Europe Packed and Sealed ?
In India no such tax to be applicable on gift received.
@@CAAnoopBhatia Ohh Thanks Sir very Much for your Prompt Reply ❤
Very clear and useful Thanks so much Sir
You are most welcome
Excellent &informative video
Clearly explained. Excellent
Glad you think so!
@AnoopBhatia 8:13 in the case of Mr.C, what would be Capital Gain for people earning 10L regular income(total income after all expenses) + 1L short term(Shares/MFs) + 50K long term capital gain(shares/MFs) and above ? Also you didn't include the term Short Term Capital Gain in the table. Why???
Sir please is question ka answer bta dijiye UA-cam pr koi bhi teacher nhi bta rha please sir
A resident individual age 38 years having income from future and options is ₹10,000 and income from intraday from shares is ₹10,000.And short term capital gain from sale of shares is ₹2,00,000 and he has no other income other than the above income . What will be his tax liability.
What will be the new tax liability if income from short term capital gain is 2,40,000 and income from future and options is ₹20,000 and intraday income is ₹10,000
Sir nice info
I am a stock market investor, and I don't have any other income in that case ... if my STCG is 6 lac & LTCG is 3.5 lac, In this case which one of both should be considered in EXEMPTION.
Great explanation.
Glad you liked it
Nice sir
आपके समझाने का तरीका बहुत बढ़िया है सर्
Thanks for kind appreciation.
Nice info video, if professional income l lakh 20 thousand and whatsoever our stcg amount , do we need to pay 15% stcg on it ????????if we fall under old tax regime
Sir Great insights,
I have no other income,
My STCG is 6,48,000
LTCG is 2,38,000
In this case 1lac would be reduced from my LTCG
& How to calculate my TAX as I am confused about my Basic Exemption limit - whether it should be adjusted against LTCG or STCG, Pls advice
Sir really it is very useful information and in clear understanding NI=3 L CG=2 Under 80C=2 L and 80 D =25 what is tax treatment please please give details information for deduction thanks 🙏
You may claim 80C / 80D against normal income but not against LTCG.
Excellent teaching
Thanks and welcome
Sir you solve my all problems thanks
If income from share trading 3.5 lks LTCG & 3.5 lks STCG and other income is nil then what will
be Tax and how to setoff for basic
Exemption.
Sir ltcg me 2.50 L basic exemption and 1.25 ka lrcg exemption both milega, 2.5+1.25= 3.75 tax nil? If no other income, please reply ❤
Nice video. Highly appreciate
It's my pleasure
Wonderful explanation 👌🏻👌🏻💓
Thanks :)
Thank you Sir..
Nicely explained...👍
Thanks.
Very well explained
Thanks 😀
My pleasure 😊
Thanks for ur time and efforts 🙏
Welcome Sir.
Can we get exemption for having two flats out of capital gain? Sec 54 and 54 F differs.Kindly.clarify.Thanks
I am yet to receive yr knd reply.Asper Sec 54 We have option to have two flats out of capital gain
could u pl tell me what items can be included in the construction cost like woodwork plumbing electrical work windows doors gril gate fans ac chimney car parking area value modular kitchen loft cover cupboard etc.kindly.advice.thanks
Very informative!
Thanks Sir for kind appreciation.
Par sir individual ko to 5 lakh tk koi tax ni dena agar basic income 3 lakh hai or share market se 1.5 lakh hai to tax Kitna banega 0?
Par wo rebate limit 12500 hai
Or 1.5×15% to 22500 hua to tax 10k hua 22500 hua ya 0 hua?
Most useful video sir, thankyou so much....sir, 1 question can rebate be claimed in stcg and ltcg?
Ex. Suppose I have salary income of Rs. 3,00,000/- and stcg or ltcg of Rs. 50,000, would I have to pay tax on 50,000 not?
If your total income is below Rs.5 lakh rebate may be claimed against STCG or LTCG tax liability.
If LTCG for selling home is 6 lakh and there is no other income, can my mother claim this benefit of basic exemption limit? Can your team help us in filing the returns?
Sir In case III 4,50,000 other Income can we get 12,500 of Section 87A and also if we can claim 80 C deduction
Thank you very sir.
You are most welcome
Sir
Pl advice,after sale of urban agriculture land,can net cosiderstion be paid as an advance and balance amount till the possassion of the house in subsequent 4 years.
Regards
Super sr citxn ke liye basic income 5 lac honi hai
Ltcg ka loss stcg se reduce kar sakte kya?
Loving your content sir ❤
Thanks.
YOU ARE A LEGEND
Thanks Sir.
अगर हम Smallcase में Index Fund ETF Select कर उसमे 30 साल के लिए SIP करते हैं 15% Annual Return के साथ तो ये Lumpsum हो जाता है 3 Crore जिसपर Lumpsum 30 Lac बन जाएगा LTCG और Others Tax Also (STT / CTT, GST, Sebi charges etc) तो क्या मैं जब हमें Smallcase से Exit लुंगा Toh क्या exit karne par uss Lumpsum amount ko within 6 months किसी Real Estate या NHAI के Bonds में मैं Invest kar deta Hoon
->Toh kya isse LTCG Tax Dene se Bech Sakta Hoon?
Long term capital gain may be saved by investing in a house property subject to the provisions of section 54F. You may consult with your CA.
Thank you sir😊
Most welcome
Sir,plz help me out.My husband has ltcg 20% with indexation as follows,4930 gain in Q2 and loss of 24773 in Q3
In 10%equity ltcg,he has 17789 gain in Q2 and 6264 gain in Q3.
After setting off the net gain is 4211.
How do I enter this in part F of Schedule CG as negative figures are not allowed.
Entering 4211 in10% ltcg in Q3 is not working also as error is shown during validation.Please guide me as I am at my wits end.
Thank you sir
Welcome.
If any expense is disallowed u/s 40 (A)(3) , cash payment exceeding 10k , is gst is also leived on that disallowed amount ?
No GST in my opinion
V v thanks sir
welcome :)
Sir, during f.y. 2021-22, I have long term capital gains from (1) equity shares and equity mutual fund (2) debt mutual fund. In equity % of tax is 10% whereas in debt fund it is 20% after Indexation. Now, in case of long term capital gains tax is deducted on the balance above 100000. While filling I T return from which type of long term capital gain,I may get the benefit of Rs100000?
My long term capital gains from debt mutual fund is Rs.120000 and from equity shares is Rs.236650.. What amount of tax I have to pay for the fy 2021-22?
Sir in my opinion if you are a non resident then LTCG from debt mutual fund will attract 20% and LTCG from equity shares above one lakh to attract 10%. No basic exemption limit available. Yet you may also consult with a CA who may guide based on the exact facts of the case.
STCG pe kitne profits per ITR file karna necessary hota hai ?
If there is no other income then income above Rs. 2.5 lakh from STCG will be taxable.
@@CAAnoopBhatia Sir If STCG from Equity is less than 2.5 Lac .I have no other income.Is it compulsory for me to file ITR or no?Plz reply🙏🏻
Sir, 112A, 112, 111A which one will I take first to get the benefit of remaining BEL
I think taking 20 % LTCG first will be benefited
@@akshayma7403 Thank you
लेकिन LTCG मे पहले 1 लाख minus होते है.जो बाकी रेहता है उस के उपर 10 टक्के tax होता है.आप 20 टक्के बोल रहे है वो कैसे.
Same to Sir
:)
what is other income??
Other income means income from other sources.
Sir if regular income is 0 but gift received of rs 2.5 lakh, then will I eligible for basic exemption Limit and so no tax for me?
Yes you will be eligible in my opinion.
Thank you Sir for Reply
Sir, is depreciation available on gun used in jewellery business for security?
Why not it should be allowable.
Sir i have around 6 7 lakh turnover in fno and 11k loss should i have make my account audited
Prima facie no tax audit required but pls consult with your CA.
sir kya other income 1lakh h or stcg 1.5lakh h to kya tax lagega ya nhi?
In case of a resident prima facie no tax payable by an Individual.
Not tax if taxpayer is normal resident
Pl advice sir
Sir stcg/Ltcg pe 80c 150000 (PPF/ElSS) ki deduction
Miegi ?
If there is no other income
80C is not allowable against capital gain income taxable at 10% / 15% or 20%. Since LTCG is taxded at special rate hence 80C will not be allowable, similarly STCG from listed securities will not get the deduction in form of 80C.
Can we claim 80 c deduction against stcg sir
If such STCG is normal rate then 80C may be claimed.
Sir make a video on restricted stock units
Nice to know that.
@@CAAnoopBhatia sir is interest paid on margin trading allowed in income tax?
👆👌👍💓❤️🌹💯🕉️🙏🙏🇮🇳
Thanks :)