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1 week ago | 
outlookmoney.com | Balwant Jain
QI own a residential plot which I want to sell now. How can I save capital gains tax on the gains made from the sale proceeds of the plot? AOne can claim exemption only in respect of long-term capital gains (LTCG). The profits made on sale of a plot of land are treated as LTCG if the same was held for more than 24 months.
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2 weeks ago | 
outlookmoney.com | Balwant Jain
QI have sold my flat after 20 years. It was in joint names. Can each one of the joint seller buy one new residential flat to claim exemption from long term capital gains?
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3 weeks ago | 
outlookmoney.com | Balwant Jain
QI got transferred to my US office from my India office four months ago. In the US, I received a complete new set of employee ID, and salary account. Do I need to pay tax in India on the amount earned in US? AYou were a resident in India during the previous year ending March 31, 2025 for the purpose of income tax, as you were in India for a period of 182 days or more and you were also a resident of India for nine out of 10 years.
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1 month ago | 
outlookmoney.com | Balwant Jain
QI have short-term capital gain (STCG) from listed shares for the financial year 2024-25. My broker has deducted tax on it. In March 2025, I incurred some losses in some other share transactions. The loss incurred is more than the amount of profit earned earlier. How I can take the benefit of the tax already deducted and other notional loss of shares lying with me.
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1 month ago | 
outlookmoney.com | Balwant Jain
QHow can I book loss on shares of delisted companies? Can this loss be adjusted against the capital gains of the same year? For how many years can I carry forward the loss? AOne earns capital gains or incurs capital loss only when the capital asset is transferred. The Income-tax Act, 1961 defines a “transfer” as one that includes extinguishment in addition to actual transfer.
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1 month ago | 
livemint.com | Balwant Jain
The 2005 amendment to the Hindu Succession Act grants daughters equal rights to coparcenary property, allowing them to claim shares in HUF property. Since the daughters were alive when the amendment took effect, they can pursue legal action for their rightful share in their father's HUF. Our only brother is refusing to part with any share in the HUF property of our deceased father, who passed away in 2009. Our Mother also passed away later on. I was born in 1959 and my sister was born in 1950.
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1 month ago | 
livemint.com | Balwant Jain
Only long-term capital gains must be reinvested when selling a residential house to claim tax exemption under Section 54. In contrast, Section 54F requires the entire sale proceeds to be invested for exemptions, which applies to non-residential propertiesIf we sell our residential house for, say, ₹50 lakh, do we have to invest the full 50 lakh to buy another residential house property, or do we only need to invest the long-term capital gains?
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1 month ago | 
htsyndication.com | Balwant Jain
Posted On: 2025-03-26 Posted By: Balwant Jain Business & Finance Health & Lifestyle Real Estate & Construction MINT New Delhi, March 26 -- If we sell our residential house for, say, Rs.50 lakh, do we have to invest the full 50 lakh to buy another residential house property, or do we only need to invest the long-term capital gains?
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1 month ago | 
livemint.com | Balwant Jain
Investing in an ELSS scheme under the Dividend Reinvestment Plan qualifies for a Sec 80C rebate as it is a fresh investment. However, reinvested dividends are taxable in the year they are reinvested and subject to a 3-year lock-in periodI have invested in an ELSS scheme under the Dividend Reinvestment Plan. Does the reinvestment of dividends qualify for a rebate under Sec 80C? Yes. The dividend reinvested is treated as a fresh investment in the ELSS.
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1 month ago | 
outlookmoney.com | Balwant Jain |Anuradha Mishra
The Income Tax Department is keeping a close eye on some financial transactions, majorly the high-value ones. If your spending patterns don’t match your declared income, you could receive an unwelcome tax notice. Now with advanced data-tracking tools at its disposal, the tax department is on the lookout for unexplained expenses, large cash transactions, and even investments that may seem out-of-sync with your earnings.
