You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Only spouse can be second holder in senior citizen plan

DNMUM402517 | 12/7/2017 | Author : Harsh Roongta | WC :401

PERSONAL FINANCE

I purchased my first flat in October 2012 for Rs 30 lakh. I sold it in August 2017 at Rs 40 lakh. I purchased the second flat in August 2017 for Rs 90 lakh. Both the flats were bought via home loan. Please suggest on capital gains tax.
--Sahil Shah
Based on the facts stated by you, there is no question of any long-term capital gains tax (LTCG). Your cost of acquisition in October 2012 is Rs 30 lakh. The index value for financial year 2012-13 was 200 while the index value for financial year 2017-18 is 272. Therefore, the indexed cost of acquisition works out to Rs 40,80,000 as follows. Since the indexed cost is more than the sale price of Rs 40 lakh, you will not have any LTCG chargeable to tax. In fact, you will b
Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

Bavarian Executive
DNMUM405857 | 1/19/2018 12:00:00 AM | Author : Saumil Shah | WC :808

The seventh-generation BMW 5-SERIES is a huge step forward from its predecessor and instantly impresses with its refinement, ride quality, new features and opulent quality. And, as with many successful German cars, the new des
Add To LightboxCalculate Price

Baleno goes turbo!
DNMUM405858 | 1/19/2018 12:00:00 AM | Author : Selvin Jose | WC :402

This is no ordinary Baleno. It gets a turbo-petrol engine, has racier looks, and comes with the promise of better performance. Meet the Baleno RS, Maruti’s first attempt at the performance-hatch segment.Its highlight of course, is the 102
Add To LightboxCalculate Price

Fast and Gorgeous!
DNMUM405859 | 1/19/2018 12:00:00 AM | Author : Ruman Devmane | WC :464

The Apache RR 310 started life as the Akula concept showcased at the 2016 Auto Expo and two years have done little to take away the essence of the concept. It’s gorgeous but not in-your-face and this should broaden its appeal. The bi-LED
Add To LightboxCalculate Price

Last-minute tax planning tips for utilising Sec 80C
DNMUM405860 | 1/19/2018 12:00:00 AM | Author : Rishabh Parakh | WC :751

It has been seen that many times salaried taxpayers end up paying extra tax, especially during the end of a financial year, mostly due to the last-minute declaration of their investment proofs with their employer. Let us see some of the smart t
Add To LightboxCalculate Price