Captial Gain Bonds in tamil | 54EC Bonds | How to calculate Tax on sale of property | LTCG
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- Опубліковано 11 вер 2024
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Captial Gain Bonds in tamil | 54EC Bonds | How to calculate Tax on sale of property | LTCG
Section 54EC- Deduction on LTCG Through Capital Gain Bonds
Capital gain bonds or 54EC bonds are the fixed income instruments that provide capital gains tax exemption under section 54EC to the investors. The tax liability on long-term capital gains from sale of immovable property can be reduced by purchasing 54EC bonds.
The owner of the bonds are the debtholders or creditors of the issuer. These bonds are issued by infrastructure companies that are backed by the government. Hence, the risk factor gets mitigated by buying such bonds. The capital gain bonds are redeemable before maturity. One cannot sell these bonds as they are not listed in the stock exchange. The interest is reduced to 5% p.a. from 6% p.a. and are fully taxable in your hands.
Bonds eligible for exemption under section 54EC of the Income Tax Act
Rural Electrification Corporation Limited or REC bonds,
Power Finance Corporation Limited or PFC bonds,
Indian Railway Finance Corporation Limited or IRFC bonds.
Key facts to avail the LTCG exemption by investment in capital gain bonds
To avail the tax-exemption the investment must be made within 6 months of the date of sale of immovable property.
Such investment can be redeemed only after 5 years. Before april 2018 the bonds could be redeemed within 3 years.
The exemption on investment is allowed only against long term capital gains on sale of immovable property (i.e. sale of land or building).
The exemption is available up to a maximum amount of Rs 50 lakh
How to calculate the tax exemption by investment in tax saving bonds
Assuming that an immovable property is sold at Rs. 70 lakh after a long term period of 42 months from the date of acquisition. The indexed cost of acquisition is 46 lakh and indexed cost of improvement is Rs. 10 lakh. Calculate the capital gain that is taxable after claiming exemption in below two cases:
i. Rs. 14 lakh invested in REC bonds within 6 months
ii. Rs. 8 lakh invested in NHAI bonds within 6 months
I. Rs. 14 lakh invested in REC bonds within 6 months
Particulars Amount (Rs.)
Sale consideration 70 lakh
Less: Indexed cost of acquisition 46 lakh
Less: Indexed cost of improvement 10 lakh
Long-term capital gain 14 lakh
Less: Investment in REC bonds 14 lakh
Taxable long-term capital gain Nil
II. Rs. 8 lakh invested in NHAI bonds within 6 months
Particulars Amount (Rs.)
Sale consideration 70 lakh
Less: Indexed cost of acquisition 46 lakh
Less: Indexed cost of improvement 10 lakh
Long-term capital gain 14 lakh
Less: Investment in REC bonds 8 lakh
Taxable long-term capital gain 6 lakh
In case if the capital gain bonds are converted into cash before the period of maturity, then the amount so invested on which tax exemption was claimed, shall be taxable as long-term capital gain in the year of conversion.
For example, in above case if the bonds are redeemed before the maturity date, say in the financial year 2020-21, then Rs. 8 lakh shall be taxable as long-term capital gain in the financial year 2020-21.
How to make investment in 54EC bonds
These bonds are not listed in the stock exchange. Hence you can buy them by the issuer directly either in a demat form or a physical form.
IRFC bondRural Electrification Corporation
Power Finance Corporation
Indian Railways Finance Corporation
Clear cut explaination sir..thank you soo much sir..
Quite Unexpected subject, but very useful one. During the course of watching your video, I shared the video to my close relative, who recently sold his house. He is also happy as it is informative one and also it helps him to chalk out his future course of action with regards to ITax. 🙏🙏🙏
Thank you for the comments sir.
Soo many stuffs to learn from u sir....thank u very much for your valuable inputs
Most welcome sir
Very nicely explained.good eye opener.
Thanks sir very useful. vazhga valamudan
Welcome sir
Hi, though I don't understood the language, but still I watched the video fully and able to make sense to much extent(with the help of subtitles). Thanks for this. My question is : my father (senior citizen), bought a residential flat in Delhi in 1999, cast price was 15lakh. He sold it last month at selling price rs 70lakh. my question is 1) how much tax is he liable to pay on this. 2)How much money, does he need to invest in bond to save full tax.
Hi, approximate Indexed value is 50Lakhs now. If he has done any improvement for the Land, you can add that. Otherwise 20Lakhs is the profit. He has to invest 20Lakhs in Capital gain bonds to get full tax benefit
Very useful.Thankyou sir.Becos we are about to sell our house n we are in confusion how to pay the tax n calculate
Thankyou sir
Most welcome.
Very simple lucid best Good luck
@@saikumarangp9249 thank you
அருமையான பதிவு. மிக்க நன்றி 🙏
Thank you sir
Super info brother. Do more videos like this. 👍
Thank you bro
எனக்கு கிடைத்த என் பெயரில் உள்ள இடத்தை விற்றதில் கிடைத்த லாபத்தை 54 EC பாண்டில் எனது மனைவி பெயருடன் ஜாயின்டாக வாங்கி, மகனை நாமினேட் செய்து கொள்ளலாமா, அல்லது என் பெயரில் மட்டும் EC Bond வாங்கி , மனைவி பெயரை நாமினேஷன் செய்யலாமா? எது சிறந்தது ஐயா?
Buy it in your name
Dear sir,
Very useful information to the common man.
My doubt is if any Land sold after 30 years old, will it attract income tax?
Kindly guide me in this matter.
It's not income tax, its called Longterm capital gain. Only for profit above indexed value
Thank you very sir very usfull information 😊
Regarding 54 E C. BONDS,
1.What will be the best Bond at present.
2. What is the Interest Rate? Is it annualy recevable?
3.Capital Gains Bonds -- Lock in period how many years.
RFC
5.25%
5yrs
கேப்பிட்டல் கையின் Tax கால்குலேசன் எவ்வளவுக்கு வருதோ (after Indexation) அதற்கு மட்டும் பாண்ட் வாங்கினால் போதுமா? மீதம் உள்ள பணத்தை ஒயிட் தானே. அதை வேறு FD , NSC., Mf போன்றவற்றில் முதலீடு செய்யலாம் அல்லவா? Pl. reply.
You have to buy bonds equal to the profit. Balance you can invest on your choice
@@nivasexcites Thank you Sir. One more doubt. Instead of purchasing bond, shall I purchase vacant land plot for that amount Sir. Please clarify this also Sir.
yes you can buy land also@@subbarayalumohandoss1545
V.useful mater thank u.
Thank you for the video, I have a question. what happens when you sell a joint property in the name of husband and wife but the sale amount is credited 100% only to the husband. In this case, the wife has not earned any income but should she still have to declare it in capital gains ?
இ எம ஐ வட்டி அபராதம் இதெல்லாம்...எந்த கணக்கில் எழுதுவது ?பினாமியை ஒழிப்பதாக கூறினால் ஒருவருக்கு ஒரு வீடு என்றால்
வரி இல்லை என அறிவிக்கலாமே? எதுக்கு பங்கு வரி கொடுக்கனும்?
சீட்டிங்
You could have shown example illustrations in video
Want to know how to consider home improvement expense in valuation as per Budget 2024. Kindly reply with examples. Thanks.
Sales price (registered) minus
Registered purchase cost
Minus actual improvement cost = gains. Tax is 12.5%
எந்த கேப்பிப்பிடல் கெயின் Tax 54 EC Bond சிறந்தது.
All are the same
Thanks for the information. Instead of property sale can we use this Bonds for mutual fund gains also?
If not, can you please mention the scheme to that can save LTCG from mutual funds?
No. We have to pay tax. We can purchase a residential property to set off against capital gains from mutual funds
If we sell the property in April or May 2024 , which was purchased in 1999 whether 12.5% tax to be paid or 20% tax to be paid for LTCG for Fy2024-25(Ay-2025-26)
20% with indexation
நன்றி கூட்டுறவு சங்கம் மூலம் 2004ஆம் வருடம் பணம் கட்டி 2019 வருடம் பதிவு செய்யப்பட்டது இப்போது விற்றால் எந்த வருடம் மூலதன லாபம் கணக்கிட வேண்டும் thank you
What is REC bonds.is the same as EC bond.
Out of cap gain we have option to have two properties.we can not sell the property within two yrs.can we have sett.without consideration to my wife within one yr.thank u
Hi thank you for the info but I’m not fully understood. I brought for 30 lack in 2010 now in planning to sell for 2.75c so plz tell me how much should I pay tax.
Consult your Auditor or tax consultant
Hello brother,
Sale of gold will cover capital gain,
That capital gain utizied in 54EC bonds
Hi sir,
I have one doubt sir, I have to file income tax return in ITR 2.
There is capital gain in sell of house property for short term, but the property owned by two people. Sale of property reflected in both party ais and tis.
I have taken 50 50 percentage for both party.
But TDS for that capital gain available for one person only sir. If I claim that TDS defective notice came sir. Now I don't know what to do sir.
Brother..
I need your advice and guidance.
Whether TNPFC is safe for deposits (5 yrs+) with monthly interest payments.
Go for UP power corporation. Yield is 9%. To invest WhatsApp to 9994266772
In 2001 purchase site value was Rs. 105000 Rupees one lakh five thosand) and sold in 2023 for Rs. 111000 one crore eleven lakhs improvement charge Es. 100000 one lakhs and brokerage Rs. 150000 so what is tax liability?
Sales price - (Purchase cost * indexation) + (improvement cost * indexation ). Which year Improvement was done?
@@nivasexcites 2010 compund wall and security gate provided for safety
Sir what will happen if we bought a house with housing loan, how will this HL interest paid is calculated for capital gain tax
@@dinakaranchakrapani3604 Registered Value of Sales- registered Value of purchase is the capital gains. Interest should not be considered
when calculating indexed cost of acquisition should we include cost incurred towards stamp duty and registration during purchase? if yes, What is stamp duty % and registration charges in 2001
Pls check with a tax consultant
ஒருவர் 60 லட்சத்திற்கு வீட்டை விற்று அத்தொகைக்கு 40 லட்சத்திற்கு வேறு ஒரு வீடு வாங்குகிறார்
அதற்கு எவ்வளவு வரி செலுத்த வேண்டும் வீடு வாங்கிய ஆண்டு 2001
What is the registered price of house or land in 2001?
One doubt sir 1.5 lakhs ku vanguna site la 13lakhs ku house construction panni.... Ippo 60 lakhs ku sale pannitom after 20 years.... Construction cost 13 lakhs ku enga kita endha proof illa ippo epdi LTCG tax calculate pannuvanga?
Sir, You have to get valuation report from a surveyor
Village people sell property.. and the same thing they buy for another property. Bonds low profit. Bro. Because inflation is too high for today.every time. I want R B I bonds investment s..
You are right. But investing in land also has liquidity risk. Difficult to sell when you want..
Could u plzz tell what will be tax for grandparents property which has been sold now
Rules are the same for everyone
We are selling our part from grandpa land. How to pay tax for old land. pl suggest
Purchase cost will the fair market price on 2001.
How do you say 5% returns is tax free.... It is a confusion with no TDS, i believe
No tds in 54EC bonds. But if your income is 5Lakhs plus including this interest, you have to pay tax based on your tax slab. If your income is lessthan 5Lakhs, you don't have to pay tax.
Instead of fd can we opt PFC BONDS?NON CAPITAL GAINS PURPOSE
PFC only 5%
Hi, I have a query about Rural Agriculture land. Is all the sale proceed of rural agriculture land is Non Taxable?? Or Do I need to buy another agriculture land from this money to save tax?? This is rural Agriculture land in Haryana..... Thanks
Do we need to buy 54ec bond in a single shot or can i buy bond in multiple entries within 6 months.
Multiples entries allowed
An inherited house property with land in rural village was sold to me for 20lakhs in the year 2007 (have agreement) but did not registered ...and going to be registered in the year 2023....so how to calculate the capital gain tax ...is it we must consider sales price as the guidelines value(i.e comes something around 50lakhs) or the sale price in 2007 (i.e 20 lakhs) and how to find the purchase value or whether the capital gain tax is not applicable ?
It's seller responsibility to pay the capital gain tax but we have agreed to bear the capital gain tax because we did not able to register on that time...and asking to pay tax in advance only then the seller will sign and register the property to us
For inhereted prpoerty before 2001, We have to calculate Fair market value on 1st April 2001. That is the cost of acquisition. Adjust the cost to current indexation value. Difference between current registration value and Indexation value will be the LTCG.
i filed 2022-23 IT return on apr 22 itself. i sold land on november 2022 & bought 54EC bonds on december 2022 itself. my query is i need to file IT return for that? if so means when i need to file ( 22-23 or 23-24) ITR 1 or ITR 2?
July 2023
Very useful sir.
Can you pl advise on my story on acquisition of capital
Undivided share land registered
During Oct 2000,for 2.03 lacs , construction agreement for 4.38 lacs
6.41 lac.
In 2008 , improvement loan 5 lac
Come on my WhatsApp no 9994266772
Sir, what if i sold my property for 34 lakhs but i bought it for 45 lakhs?
It's a loss. No need to pay any tax
Sir what is the Present MFV for the asset purchased in year 2000-2001 fir Rs 328000/- .thanks
Sir, any new updates in capital gain in budget 2023-- 24
No sir
Useful video
Thank you Sudharsan
Ancestral property of 100 years old what is tax payable for capital gain
Fairvrlue in the year 2000 had to be calculated and apply this year's indexation chart value. Then extract it from sales price
Very useful. Does this indexed cost f acquisition (33%) applies to sale of Residential (Vacant) plot as well ?
Yes
My father 80 plus year old sold his village residetial property (50 years old) for Rs 13.50 lakhs. Does he comes under CG calculation?
If yes, Can he buy a property for this amount along with his daughter's share and be co-owner?
Please clarify 🙏
For smaller amount, there won't be any issue. No need to go for Capital gain bonds.
We purchased land 20 yrs back for 10L sold for 4.75cr now ...how much should pay tax
Hope you watched the video fully. We have to identify fair value in 2001,
Add any improvement cost
Calculate indexed cost
Capital gain is Sales price minus indexed cost. 20% tax for gains
Good sir
Thanks and welcome
Sollunga bro
Sir if we invest 50 lac for 5 year.
1) Is the interest earned @5% given every year or together on maturity after 5 years?
2) Is it possible to withdraw say 10 lacs after 3 years in case any need arises? Or is it impossible to withdraw anything until 5 years?
5% interest is per annum. It will be credited in your account. You can't close in-between even for emergency.
@@nivasexcites Thank you so much for reply Sir.
What i meant is, can we withdraw 10 lakh mid way, and pay 20% Long term capital gain tax on the withdrawn amount and make use of it.
Or even this facility is not there?
@@user-jo3fy6qm7c not there. It's a 5year bond
@@nivasexcites Ok. Thanks sir
Whether flat is covered in Building, to claim exemption under 54 EC?
Yes
Im sale of land in my name may 24 amt 900900(guideden value) next year this amt i paid tax or not in next year or now im which amt im buy capital bonds reply sir...
@@venkatesanmunuswamy1291 given information is not enough to give suggestion
Indexation gone in new budget 😮😮😮
Still available for property bought before 2001
Hi sir ... I am going to my property of house .. My buyer is going to apply for loan so the loan amount will be credited to my account ... the amount is given through cheque n its above 27 lakhs .... if amount is credited to my is taxable sir ? Pls clarify my doubt sir
Hope you watched the video fully. Only for profit, we have to pay 20% tax
@@nivasexcites I have bought for 1 lakh in 1998 sir ...we r selling it now for 41 lakhs sir .... could u pls tell me how much to pay ?
@@kiransandhyapv I have explained clearly in the video. You can calculate yourself roughly. For assistance, contact your Auditor or tax consultant.
@@nivasexcites thank u sir
Hi bro if i am sale agriculture land have to pay capital gain tax?
what if base year of acquisition is before 2001
Even if it is 1960, base year is 2001. Fair value as on 2001 has to be calculated. Tax consultant can help you
இடத்தை விற்று பணமாக கொடுத்தால் அதை எப்படி capital gain bond ல் போட முடியும்
Only for registration value minus purchase value(indexed cost value) will be taxed.
@@nivasexcites
How much interest rate
This is not valid as on date as amendment has taken place in the budget
Still valid sir. Indexation is applicable for properties bought before the year 2000
Yes
Is this applicable for STCG also
What about selling car taxes on profits
No tax benefits. Mostly it's a loss only.
Interest tax free sir clarify
Interest is taxable as per tax slab. Interest will be added to your annual income