Capital Gain Return Filing

Capital gain return filing

We will help to file capital gains income tax return and save capital gain tax on sale of property or land, with application of Income Tax provisions and suggesting the proper course of investment options. This Package Includes Capital Gain consultation for Single Land or Building Sale, in case of capital gains on any other asset kindly call us for a customized quote.

File income tax returns filing for sale of property

Inclusive: Suggestion of Investment options, Calculation of Capital Gains tax and Filing Return for one year.
Duration: 1 Day – 10 Day (Based on Complexity).

Capital Gains Tax planning is a major area in Income Tax Requires proper advice and expertise, Proper tax planning and investment helps you to save a large amount of taxes, and most of the Capital Gains tax planning should be pre-planned so that noting will be time-barred.
Additional Charges will be applicable if there is any other type of Income to be Considered in Income Tax return Filings.
1. Cost of Purchase of land with or without a building.
2. Date of Purchase and Sale.
3. Cost of Construction with the date.
4. Pan Card Copy.
5. E-Filing Website Login Details.
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    Frequently Asked Questions

    Yes for claiming exemption from capital gain tax you need to file income tax return within time allowed for income tx return filing
    There is no separate rate of tax for capital gain on land first classification should made as long term or short term, for short term we should pay taxes at slab rates, and for long term capital gain we should pay tax at the rate of 15 %
    Exemption from capital gain can be claimed by investing in certain types of properties U/s 54, 54EC, 54F,  54B, 54D, 54GB
    Only capital gains on transfer of agricultural land in rural area is taxable under capital gains, classification of urban or rural agricultural land is based on location of the property, population in nearest area or that area, distance between nearest municipality
    No if you want to claim exemption from capital gain you need to invest in another property in your name
    Yes advance tax is applicable estimated tax liability exceeds Rs.10,000 during the current financial year, as the tax on capital gains will be in more it is advisable to pay advance tax to avoid interest U/s 234B and 234C 
    There is no basic exemption limit for capital gains, but the unused portion of basic exemption limit shall be used for saving tax on capital gains 
    Yes capital gains tax is applicable however period of holding is calculated from the date on which your father had purchased the property
    Yes capital gains is payable on sale of jewellery, the calculation method and rates are same as applicable to land or building, but the period of holding in case of jewellery, gold, silver, platinum should be more than 36 months to be classified as capital gain
    Yes due dates , belated return filing, revised return filing process are same for capital gains income also there is no sperate condition for return filing
    Sale consideration on sale of property shall be higher of stamp duty value or actual value for which the property is sold, so in this case you need to calculate capital gains tax on actual value for which the property is sold
    Yes TDS @ 1 % on full value is applicable if sale consideration is above Rs.50,00,000 and buyer need to pay TDS in form 26QB
    On the date of conversion of land in stock in trade it is deemed that property is transferred, so capital gain is calculated using valuation methods. Sale consideration so calculated is value of stock in trade and business income is arrived considering this value, so there will be capital gain as well as business income in the entire transaction
    Capital gain on transfer of depreciable asset is treated as short term capital gain, profit portion up to the amount of depreciation already allowed is treated as business income, gain over and above depreciation already allowed is treated as short term capital gain

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