Capital Gain Treatment
Querist : Anonymous
I had a house which was purchase on 91-92. from rs. 225000/- which i sold out on feb'2010 for rs. 14,00,000/- & also to save tax Rs.8,50,000/- rural capital gain bonds....
so now rs. 1151745 is been capital gain which including in capital or not ?
in which column & which sec./division i have filed in ITR-4 pls guide me.. urgently
thanks in advance
investment in rural captial gain bond will be shown in same point no. 3(d).
No, Captial gain will not be added in capital because you have to reinvested it within specified time.
Querist : Anonymous
but which amount where to put ? rs.1400000 in which collumn, rs. 225000 which column & rs. 850000 in which column,
and also tell me how to balance my balance sheet from all this amounts.
Querist : Anonymous
225000 with indexation B)3)b)i)
850000 in B)3)d)
Querist : Anonymous
to, house property 225000
to, long term capital gain 1175000
(amount recd on account of sale of house property and capital gain arise of rs. 1175000)
investment in rural capital bond -----dr 850000
to , bank 850000
(amount invested for exemption of long term capital gain)
Querist : Anonymous
one more thing form capital gain I have given Rs.450000/- to my daughter in law. so what proof I have to prepare for it... now its possible after sale property after 3 months.... pls help me sir....
thanks alot for instant reply.
NO PROBLEM ........
MAKE A GIFT DEED THAT YOU ARE GOING TO GIFT TO YOUR daughter in law(WHO FALLS UNDER RELATIVE) . IT WILL NOT BE TAXABLE IN THE HANDS OF YOUR daughter in law .
Querist : Anonymous
Querist : Anonymous
and also if i give gift to my daughter in law where to pur that Rs.4,50,000/- amount on balance sheet & also effect of gift entry.
Querist : Anonymous
When I entered in CG-OS Rs.325000/- shown in long term capital gain ?
how to solve ? if i do nesessery investment ?
pls solve my que......sorry for your inconvience.....bcs I always need your help...thanks
LET IT BE KNOWN TO ALL by this Deed of Gift that I, …………….. S/o…………… R/o……………….. do, hereby, out of natural love and affection and also out of my free will and without any force, compulsion or undue influence, transfer an amount of Rs………….. to my son Mr……….. X ……… S/o……….. R/o…………….
IN WITNESS WHEREOF, I have signed this deed of gift on …………
In presence of
Witnesses: Sd/-Donor……….
1……………..
2………………..
JUST PASS THE FOLLOWING ENTRY
GIFT -----------DR
TO, BANK.
CAPITAL ...............DR
TO , GIFT.
Querist : Anonymous
OK LET ME CLEAR,
RS.14,00,000/- IN 3A
RS. 2,25,000/- IN 3B(i)
RS.10,75,000/- BALANCE 3C
RS. 8,50,000/- INVESTMENT IN RURAL BOND
RS. 2,25,000/- LONG TERM CAPITAL GAIN
PLS ADVISE WHAT TO DO.
BUT IN 3Bi, amount will be
225000x CII OF 2009-10/CII OF 91-92
=225000 x 632/199 = 714572 will be your indexed cost of acqusition.
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