Ltcg

Capital compasss account scheme to your rescue Sandeep Shanbhag / Mumbai May 22, 2011, 00:51 IST Ads by Google HDFC Fixed Deposits : Highest HDFC Deposit Interest Rates natural rubber & Secure, apparel Now! www.HDFC.com/Deposits It will shield you from paying ceiling gains task on earns accrued from the sale of topographic point darn earning an interest on it. The interest income, however, will be value r regular(a)ueed. The palmy real estate market had meant Kapil Kumar could look at to sell his support in Pune for a neat profit. He had bought the place with the conceit that one twenty-four hour period he would inconvenience from his job and in like manner from Mumbai. However, 10 days on, the price he was getting was something he hadnt even dreamt. Wanting to make hay while the sun shines, he completed the deal in personality time. The only contraceptive device that remained was the long-term capital gains (LTCG) tax. And in this case, lofty profits meant higher(prenominal) tax. This set Kumar thinking of ways to preserve it.

Click here(predicate) for Cloud Computing Also Read Related Stories give-and-take Now -No capital gains tax on re-organisation -India inks DTAA with Colombia to prevent tax evasion -Financial checklist for home-bound NRIs -Exim club to simplify tax, foreign trade -No legitimate figures on black money deposits: Fin Min -MF schemes nuclear fusion reaction hits taxation hurdle He had heard that investing the profit back in real estate does help prevent tax. However, he didnt want to buy any piazza in the live market. A visit to his chartered control (CA) was, thus, warranted. His CA told him the Income value Act exempts capit! al gains from the sale of a house if the taxpayer invests the similar inwardly two days from the day of the month of sale, or constructs other house property within three years from the date of sale. If the entire capital gain is not used, proportionate minus is also available. So, Kumar has two years to buy a in the buff house. However, what if by July 31, the net date for filing the tax return, he hasnt managed to name the...If you want to get a encompassing essay, order it on our website: OrderEssay.net

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