Fire your tax related queries and i would get it solved!!!

[goodbrother]

hi diosys,

I have a question related to Long term capital gains by sale of property.

if a person have a LTCG of 15 lacs out of sale proceed of a commercial office room ,and do not want to pay 3 lacs taxes or reinvest in any residential property or existing residential house , what are the other best options to invest to save capital gain tax

I have come accross 3 years REC bond with 6.25% annoal intrest paid for 54EC tax exemption bonds.

- do we have any other such bonds,and within how much time one should invest.
- do we have any other investment area for this
- are these bonds safe investments

regards
GB

 

[diosys]

What happens if I trade on my wife's name and she is a housewife?

then no problem....but where would the money come.... where would she get the capital from ??? if you gift her and she does trading on that money it would get clubbed in your income....

 

[diosys]

hi diosys,

I have a question related to Long term capital gains by sale of property.

if a person have a LTCG of 15 lacs out of sale proceed of a commercial office room ,and do not want to pay 3 lacs taxes or reinvest in any residential property or existing residential house , what are the other best options to invest to save capital gain tax

I have come accross 3 years REC bond with 6.25% annoal intrest paid for 54EC tax exemption bonds.

- do we have any other such bonds,and within how much time one should invest.
- do we have any other investment area for this
- are these bonds safe investments

regards
GB

Hi GB,

We have only these bonds option...basically only two bonds are allowed to be invested in NHAI and REC bonds. Both would give approx the same return....

Perosonally few years back i had capital gain then i invested in REC. the units alloted in REC come in your demat and are safe from that angle.

From the angle of safety and betting on REC and NHAI (both being owned by Central Govt) is the highest safety a person can ask....

 

[goodbrother]

Thanks for your advice

GB

 

[pavvu_kk]

then no problem....but where would the money come.... where would she get the capital from ??? if you gift her and she does trading on that money it would get clubbed in your income....

Ok. But the actual scenario is that she worked for a few months and has some bank balance. She could use that money to trade (I won't have to gift her anything). What would be the tax implications in this scenario?

Many thanks for the advice.

 

[diosys]

Ok. But the actual scenario is that she worked for a few months and has some bank balance. She could use that money to trade (I won't have to gift her anything). What would be the tax implications in this scenario?

Many thanks for the advice.

then simple....the income so earned would be hers....

 

[magnet]

Diosys...

1: Can a husband gift to his brother in law(wifes bro)??I mean does gift law allows that

Or Can a brother gift to his sister after marriage?

I am speaking about cash...say 1 lakh rupees

 

[pavvu_kk]

then simple....the income so earned would be hers....

Does it mean she doesnt have to pay any STCG?

 

[diosys]

Diosys...

1: Can a husband gift to his brother in law(wifes bro)??I mean does gift law allows that

Or Can a brother gift to his sister after marriage?

I am speaking about cash...say 1 lakh rupees

In both the cases it is correct.....gift can be made without any taxation.

 

[diosys]

Does it mean she doesnt have to pay any STCG?

yes, if she crosses the basic threshhold limit of 1.80 lacs