Capital Gain Tax On Residential Property | Section 54 Exemption | Explained By CA Sachin
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- Опубліковано 21 сер 2024
- In this video we will understand about the capital gain exemption u/s 54. In income Tax there is a provision through which you can get the benefit of exemption against capital gain arise due to transfer of residential house property.
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Itni positive deep knowledge koi nahi deta sir
I like this
Aap se milna chahta hu
C.A.Sachin sir, you are very very intelligent and how beautifully you explain every snallest things..waah....God always bless you sir.
Thanks 🙏🏻 call me sachin only 😊
Your information is too good and to the point, with excellent practical examples👍
Ca expert sachin sir your teaching style is very good it is really helpful for beginners and professional also I am income tax practioner I always watch your videos it is very helpful you are really doing good work gbu 👍👍❤️❤️🙏🙏
Thanks 🙏🏻
Mr. Sachin, I am highly impressed with your knowledge and expertise. Just advice, if one brother sells his 40 year house , can he buy ahouse in the name of his brother out of Capital gains amount to avoid any Tax.
Query not clear
bahut hi practical tarike se explain kiya sir apne ...
K(j
This is the best video on Capital Gains. Sachin, if I am investing in an under construction property one year before the property sale and one year after as well, can I add up the entire slab payments before the sale or after to consider in tax exemption?
Thanks 🙏
Yes
नमस्कार सर् जी आपका vdo देख कर बड़ी खुशी मिलती है ।आप बहुत ही अच्छे तरीके से समझाते है सर् ।मैं एक जानकारी चाहता हूँ सर् ।मेरी पत्नी ने एक प्लाट सन 2004 में लिया था durbhagybas 2005 में उसकी मृतु हो गई उसके बाद वो प्लाट खतौनी में मेरे नाम दर्ज हो गया ,जिसे मैंने उस प्लाट को सन 2022 में बेंच दिया ।क्या इसपर हमे टैक्स लगेगा सर् ? उस पैसे से मैंने 2023 मे प्लॉट खरीद लिए हैं ।
Yes
But can save tax
Contact near ca or us at 9319333248
Capital gain is very crucial computation so do t ignore it
Also share my videos in ur WhatsApp and circle
Sir very very nicely explained. I have one Q: we sold a land worth 60lakhs and we bought another land within 1 year, worth Rs80lakhs- in another city----> will my capital gain be saved. kindly explain.
If husband n wife sell jointly owned R. prop. Will capital gain be divided 50:50 and tax applicable on their share separately and they will enjoy limit of Rs 50 lac each separately.
Property ka initial rate nhi pata, Great grandfather ke time se land thi before 1970, us time koi registry nhi thi. Ab agar sale karte hain 30lakh ka sale registration hua hai, to isme kya calculation hogi ? Ab .. if sold in 2022-2023
You have explained very methodologycally. Please share your details. I am a senior citizen retired from govt. service.
9319333248
Aap great hai sir
Aapki vedio dekh kar tension km ho jaati hai
Sir, A house was purchased for four lacs only in 1996 & now in 2024, the same property is being sold for 26 lacs, now what will be capital gains keeping in mind prevailing cost of house at present ie 23lacs.
Most Important Query :
Mrs. ABC (Female)
Age = 70 years
Chawl room gone for SRA project and got possession in 2011.
As per the Income Tax Section 54 this is exemption for SRA development.
Then this flat sold on Jan-2024 of Rs. 60,00,000/- (FY_2023-24).
TDS deposited by purchaser & reflected in Form 26AS (FY_2023-24) @1% Rs.60,000/-.
Consideration has been credited in bank account in FY_2023-24 :
-> Rs. 5,00,000/- (Jan-24)
-> Rs. 55,00,000/- (Feb-24)
Now she is going to transfer this amount to her both daughter in ratio @ 50:50 & deciding for making Gift Deed on stamp paper for taking Income tax exemption benefit u/s.56(2) of Income tax act in month of May-2024 (FY_2024-25).
So, my question is that, how to show this transaction in Income tax return for FY-2023-24 & 2024-25.
Need discussion and paper for proper advice contact on 9319333248
Sachin ji, Good information nicely explained. Some confusion, {Point No. 8} you mean to say , If the second property has been purchased to save long term capital gain arrived from 1st property, it should be retained for 36 months to get the long term capital gain arrived at by selling the 1 property
Yes need to hold new purchase house
June2023, mai flat liya or ab sell kerna chathi hu
Ab plot kharidana chatihi hui jo 20 lac ki h but capital gain 38 lac ka ,how can save tax pls guide
Simple Question -
Got capital gain from an ancestral property this month, What if I have already purchased a property (8 months ago only) on the name of my Mife & myself (wife first owner & I am co-owner)
Need discussion and paper for proper advice contact on 9319333248
Sachin bhai aj ki apka channel dekha aj tak itna simple or acche se kisene nhi samjhaya thank you mera ek question Hai hum apne saare property sale kar rahe cost is High property on father name joint family so kya new House or flat lege wo father ki jagah unki wife mere mother ya mere khud k naam pe le sakte as he is paralysed nd in bed return not filed from last few years as not in slab KINDLY explain
Yes can
2:10 you could have clarified the date of purchase as date of booking and allotment and not the date of possession or registry. Excellent video though.
Brilliant narration. Simple content 🎉. Easy to understand. Keep up the good work 👍
Thanks a lot!
Flat sale agreement value is 19 lakh, and stamp duty value calculate on 22 lakh. Market value & setforth value also 22 lakh. which amount 19 or 22 will be consider for capital gain? Please explain.
2 questions- 1. If i have sold 1 house and have bought 1 house within 1 year before the sale then i can use this for capital gain exemption as per section 54. Given the condition of section 54 i cannot transfer the property for 3 year else the exemption will be withdrawn. Question is this 3 years will be counted from the date of acquisition of house or it will be considered from the date i have sold the second house.
Q2: How do we calculate tax on house bought with capital gain income. Will this amount be adjusted from cost of acquisition of second house? or this amount is exempted permanently if i am able to hold the second house for 3 years from the date of acquisition.
You are explaining everything very well. Thanks for your social service. I have one doubt that whether it is allowable to sell two residential properties to purchase to residential houses in different cities of india to avail benefits of capital gain, since my sons living in two different states. I am waiting for your reply. Thanks.
Yes but I need some more facts for proper advice
So either contact near ca or us at 9319333248
O.K Thanks.
Mera question please answer me, My old house is paghdi property since 30years,now developer redevelopment do because this whole bldg is now under c catagory so BMC immediately wants to demolished,now landlord has no money so he gives right to redevelopment to new developer, that developer is now developing this property as commercial ,,now unwilling ly i have to take what he is giving me alternative accommodation ownership based as per law of redevelopment, now whole bldg is commercial, before that only ground floor was Shop wala,we two floor was rental paghdi wala, now tell me in this situation there is no transaction, only greeting alternative accommodation free of cost ownership based,so in this case we have to pay tax or not?
Capital gain F.Y 22-23-8LACS
New property purchase- not yet
Advance given to builder-50 lacs in Feb 23
10 lacs in July 23
So can I claim the deduction under section 54.
sir aapka andaaz ,excellent hey, Teaching all Points in simple way. MAINEY flat sold kiya aur phir nya Undrcnstrctn Flat Last year liya ,Rgstry hugyi hy mere naam pr , KYaa Ab osku Daughter ku Gift kr skti hun?? 2 Years sirf huwey hein Nya flat lekr .
Buildr pssssion nahi diya h, BUT osmey hum Reh rhyein hein. Builder ki prmssion sey , . PLzzź btaayii kyaa sahi krna huga . jismey LTCG / tax compliance Nai notice aayye , ThankU.
I have purchased under construction flat in 2021 which got passesion in 2023 & sold out old flat in 2023 itself. Whether I can claim under section 54?
In case of joint owner of the property sold whether investment in bonds can be made individually or in joint names to claim exemption under section 54EC & which date has to be considered for buying the bond within 6 months, whether date of agreement or date of part payment made by buyer?
Good information but sir what tax i have to pay if i sell ancestral property which not mentioned any sale deed or any deeds only succession deeds so how much tax or no tax
Please reply 🙏
If flats are taken against non agriculture plot by development of plot through builder.Then LCGT is applicable or how ?
I sold out two commercial property purchased 1993 and purchased a new and only one Resident property a lots of capital remains how to handle rest of the money ?
As per Sec 54 exemption, property can not be transferred for 3 years otherwise exemption given earlier will be withdrawn. What if property is transferred as gift to son or daughter? Will exemption be withdrawn in this case also since Sec 47 defines transfer by way of gift is not considered as transfer and 56(2)(x) also exempts gifts. Please clarify
Please make video on capital gain tax exemption for senior citizens
Sir, if property sold in LOSS then what is the position of the tax ?
Sir i was sale my house in the city (inside the municipal area) and again within time i was purchased house outside city on agricultural lend conversation of lend is due can i take benifit of sec54 of income tax act plz tell me
Fantastic information 💁♀️👌
Jab hum koi under construction property buy karte hain iska possession toh kuch saal baad milta hai toh, possession k baad kitne saal baad sale karne se ye long term capital gain tax benefit le sakte hain?
If a person booked an under construction property in Dec 2018 whose completion is scheduled in 2024 and in the meantime, he sells 02 plots to 02 persons in 2023, can he claim capital gain tax exemption for remaining payments for this property? As the booking was done more than 01 year back and secondly, sale of 02 plots are involved?
Can we buy new property on loan first and then sell old home later then can we adjust capital gain?
Sir jo construction vaala case hai capital gain ke paise se 3 saal baad vo koi already koi doosra kharida hua Ghar le rakha hai uski reconstruction pe lagaana hai ya koi kharida hua plot hai bahut pehle jo 1 saal pehle yaa 2 saal baad ke under nai aata ....uspe bhi construction karva sakte hai khaali plot mein
sir do we have to buy land of capital gain or whole sale amount ? Eg-property sales of at 50 lakh so capital gain comes at 20 lakh after indexation etc so we have to buy another residential house of 50 lakh or only 20 lakh to save tax?
Propert means land or house
What u sale ??
@@expertcasachin residential house sir
@@expertcasachin residential house sir
CA Sir, English Subtitles/captions will be Greatly Useful.
How is the money received for selling fitting and cost of improvements over a period of 2 years from date of sale taxed in the hands of seller of flat, when it's not part of sale deed, but documented in separate agreement and paid through RTGS in the bank of seller
Valuable points considered
Thanks for this video
Sir agar kisi property par loan le rakha h
Vahi property sale kar di for repayment of home loan
Phir exemption nahi milegi na
Very informative. Good
@expertcasachin, Sachin Ji thanks for your video, it is really helpful.
I have question on duration on considering it as long term capital gain of a registered property. Is this going to be calculated from date of BBA or handover date from builder after registration?
BBA
But take proper advice with paper
I have purchased a plot and constructed new house by taking home loan. Now we are selling our old house which is on my father s name constructed 20 yrs ago. Can we use this capital gain by selling old house to pay home loan which is on my own name.
As per sec 54 we have option to have two flats out of capital gain.could u please 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 value cupboard LOFT cover modular kitchen EB charges including cost of meters.kindly advice.thanks
Sir how capital gain is calculated on redevelopment property as my old home is demolished and reconstructed with additional area. And old home was under pagri system
Sachin Ji, can the 54EC bond benefit be taken each financial year e.g. a property sold in March, 50Lac invested in March, and another 50Lac invested in April still within 6 months of sale to offset 1CR capital gain. It seems there are several court cases here where it was ruled favorably.
Excellent informative video sir
Very important information you have shared sir, thank u for this video. I have 1 question should that person have to file ITR ( even if they have no any income sources ). Is is mandatory to file ITR ?
Not mandatory
Sir,
Is cost indexation benifit is allowed in short term capital gains by sale of house before 2 years.
very nice information. In mutual funds, is the LTCG exemption of 1 lakh applicable for one single mutual fund investment or that is applicable for 4-5 mutual funds in our account?
1 lakh LTCG exemption is for a single individual in a financial year for all equity investments including equity mutual funds and stocks.
Who is eligible to buy property in sec 54 capital gain exemtion if we sell ancestral property.
My ltcg is 1 cr. Sale agreement date 1st may 2024,
registry date is 15 july 2024
Possession date will be 31 dec 2024.
and tax return filing dt is 31 july 2024.
By which date I have to open capital saving account.
I need discussion and paper for proper advice contact on 9319333248
Sir, I have purchased a new flat which is under construction and I will get it in 3 years but by agreement to sale is already registered in March 2022. My current house I want to sell only when I get possession of new flat. Will I get exemption or do I need to sell my old house within 1 year of registery of new house?
I'm looking for the same
Sir can I get LTCG tax exemption in case I purchase residential property first and later sell my old property
Make some programme on nri investment in Indian listed share
Sure
Execelent
Sir , I sold my house on march 2023 and purchase another one on may 2023 by using LTCG. Now how to show the purchase date here as the date falls in current FY.??
I need discussion and paper for proper advice contact on 9319333248
Sachin saab, is there a diff in selling property after a long time, like selling an Asset, after 20 years of purchase ? e.g. Let's say i had purchased a property @ 20 Lacs and did all work of around 5 Lacs in 2004. And i am selling off my property now, almost after 20 years. The sqft price was 1750/- in 2004, where as it's 20000/- + now in 2023 .. So if i am selling my Flat @ 1Cr, Will this appreacitaed value of the Property be calculated or Capital gain will be calculated on 75 Lacs ?
Sir I sold a house on 17th december 2021 in Rs 42,00,000/ and purchased a plot on 26th April 2022 in Rs 49,00,000/ . Now I am in compulsion to sell the plot, therefore I have made an agreement with someone in Rs 49, 50,000/. The registry date of plot is before 31st march 2023.
Sir please suggest me whether I will have to pay tax on short term gain of Rs 50,000/
Will I have some complications now ?
Me plot bechne per jo amount aae hai vo me half plot me and half 54ec bond me at a time invest kar sakta hu kaya esse mera capital gain bach sakta hai kaya muje 82 lakhs ka capital gain hua hai please advise
I booked a flat in Sep’14 and paid via multiple EMIs within a duration of 2014-2021.
I did not took a home loan as the builder was a known friend.
The last EMI was paid in 2021 but now I would sell that flat in May’23.
Please suggest which year should be considered as the base year to calculate the CII and LTCG ?
Should it be 2014 or 2021 as the CII value for both years are different.
Flat’s registery is not done and I’m reselling the property.
Sir I built a house on land. Started construction in 1994 and continued for 7years to complete .Now I want to sell it.I reside in another flat for last 67 years.I do not want to purchase flat or build house.I can invest sale proceeds in CAPITAL GAIN BOND.But after 3years can I invest the maturity amount in Bank?
Please reply and oblige.
I need discussion and paper for proper advice contact on 9319333248 or near ca
Nice video sir. Can you pl explain the transfer of CG amt to relative and non applicability of CG tax.
Mujhe ek property bechne hai, jo mother (age 67) ke naam pur hai. Party 87 lakhs white me de rahe hai, usko mai kaise use kar sakta hoon..
Kya residential property sell karke plot aur agriculture land buy kar sakte h ?
Means invest utna hi karna hai. Jo profit Hua hai. Full capital amount investment nhi hai...am I correct?
Sir,your vedio hamesha achchi hoti h.share k ltcg se rec k bond le sakte h kya?
Yes
how to save capital gain after selling residential plot??????????
I have sold an open residential vacant plot on 15/12/2022 for Rs 60 L. The plot was jointly held by my brother and myself. By Mutual understanding he took Rs.20L and myself Rs 40L. The plot was purchased on 23/01/1989 for Rs.5500/-. The capital gain was 48 L. Separately I have capital gain of Rs.32L .
Can I invest this much amount in purchasing residential open plot for house construction to save capital gains?
I have already two houses on my name?
Which is the best option for saving capital gains tax?
Need discussion dear for proper advice
I sold a property which was jointly owned with wife. Capital gain 3 lakh. Per head capital gain 1.5 lakh. Wife house wife. Is her gain will be taxable??
Yes
Sir you have mentioned that if exemption of sec 54 is still available if new property is sold within 3 years and another house is purchased. Is there any supporting for this can’t find it anywhere
really good with minute details
Thanks 🙏
Sir i had purchased a plot in year 2006-07 in 3 lac now the same is proposed to sell in one cror what would be implication of income tax
Can we give capital gain amount to any relative ?
I m 83 bought dda plot in 1970 for rs 14800.built house for self in 1975.
Now i want to sell. The indexed cost for 2022-23 is 331. s built/ owned house in delhi in 1975
Mahesh ji u need Valution as on 2001 contact us on 9319333248 we are Delhi based will do or visit office also
Very useful information. Please let us know how is previous 1 year calculated ? Previous financial year or actual date of purchase and sell
From date of sale
Your video really very practical, unlike others
Agar purchase date Nov 22 and sale date Dec 23 hai to long term capital gain exemption milega ?
Sir mere father ki inheritance mai residential property hai ab wo property sale kar rhe hai lekin buyer kah rha hai ki wo pehle residential building ko plot karwayega phir registy karega sir my question is cost of acquisition ka deduction plot ka milega ya buildig ka le sakte hai indexation benifit lena hai 2001 ka sir ? Pls reply buildin ya plot ka fair market value le 2001 ka ??🙏
Whether father can invest capital gain of residential property in construction of floors of son' s residential house property ...
Sir, I purchased a land on 16/03/2011 worth of Rs 1,43,000. Sold the land on 16/02/2023 worth of Rs 6,30,000. In the meantime I purchased a flat on 31/03/2022 worth of Rs 18,75,000. So, in this regard selling of land have I to pay income tax?
I need paper with discussion for proper advice
Hye, I had purchased one plot at 700000 registry cost in Feb 2021, now I will be selling fully constructed house two floor at 3100000 registry cost will I have to pay any tax?
Whether I can get exemption under section 54f if a building is constructed on land of my spouse.
2.Whether I can get exemption under section 54f if part amount is invested for purchase of building.
Need discussion and paper dear for proper advice
Contact on 9319333248
Make a vidoe how business men buy farmhouse of 50cr - 70 cr on individual
By paying money In black. Most of them have political connections or are politicians themselves which allow them to do literally anything without getting asked by anyone. Also most farmhouses are built by scratch by first purchasing the land which is cheap.
Mine cousin bought a farmhouse for 400 crore rupees, official circle rates are much less priced than real circle rate, on papers it is only supposed to cost 150 crore but the real it costed was was 400 crore
Thank you, sachin ji
Thanks 🙏
Hello sir, i am planning to sell my flat and invest the capital gain to new property.... within a month.
So until I buy a new property within a month can I keep my capital gain in regular saving bank account for one month or do I have to open a capital gain account to save a tax.. please 🙏 guide me sir.
Sir-Can l add anyone other than my Wife & Children in Registratry of House purchased from Long Term Capital Gain Tax Savings Scheme?. Rgds
I want to sell my house and purchase 2 plots with that amount and then built a house by home loan... So do i have to pay capital gain tax ?plz reply
Sachin ji I sold my residential plot in June 2022 in Delhi. I want to know how can I save my maximum tax. If I consult you regarding my two sold properties in between April to June. I want your help in this matter,, so what is your fees, what about your appointment?how can I take for October- November. I want to meet you in October or November 2022. But can you advice me little bit on phone, because at present I am out of India. Thanks.
Thanks good information 👍
What about NRI buy perpetry in India
Can you please explain gift deed charges and process? Agar POA + will karde toh sahi hoga?
Sir namaskar my ques.is
Capital gain = 1cr
Purchased plot = 35 lac
2 villas = 70 lac
Acc.to law 2 residential property we purchased so that we can paid 20% tax on Plot purchased on 35 lac??
Yes but take proper advice with doc
मेरे पास एक मकान हैं मैं ढाई करोड़ में बेच रहा हूं मेरी एक करोड़ की लागत हैं यदि मैंने डेढ़ करोड़ का मकान खरीद लिया तथा अपना एक करोड़ बैक में एफ डी करवा दूं तो मुझे एक करोड़ पर आय-कर देना पड़ेगा या नहीं ।
I need discussion and paper for proper advice contact on 9319333248
Sir tds ke uper ek video bna do ..
Sir, There is no video on youtube regarding selling many NA plots.
Can please make a video regarding capital gain if agricultural land converted into NA plots? How to calculate time duration of 1-2 or 3 year to buy another residential house to claim section 54 if multiple plots selling/ registry date is different? e.g.All plots sold sold in 4 months time ( in two different FY).
I Gorak sawant navimumbai I have purchased room for Rs 2625000 and sold for Rs 3385000 purchased in year December 2016 and sold for the year November 2022 how much is the capital gain and how much I have to pay tax and capital gain help