Thanks for video & good explanation. It's good attempt to educate people. I had wrong notion that cost of property inherited Will be zero. In case property is very old & in village , please explain what's documents required for income tax . Or to prove ownership .
My father died before so many years ago and we mutually distribute all my father's property and a shop came in my part and i sold out it in the same financial year so can i take the way of long term capital gain ?
Thank you sir bahut acha aur sir kya purani pustaine jamin ke wealth tax bhi banta hai aur wealth tax yearly hota hai ya ek bar please🙏 bataneki niveden kartey hai
इतनी महत्वपूर्ण जानकारी के लिए बहुत बहुत धन्यवाद 🙏 सर एक प्रश्न का समाधान चाहता हूं.. क्या हाउस प्रॉपर्टी की सेल से हुए LTCG को बेटे के लिऐ हाउस प्रॉपर्टी खरीदने में इन्वेस्ट करके LTCG टैक्स exemption क्लेम कर सकते हैं..? 🙏
Sir ji, very good information. Sir if the inherited property (inherited 15 years ago from today) is sold last month at 100/- and from this received 100/- one buys a new property of 25/- within 2 years for example; what are the Tax implications?
I liked it so much that I immediately liked and subscribed. Thanks for sharing this nice video . You have explained everything so clearly for inherited property. My question is regarding a property purchased by me in 1997 and which I want to sell now. 1. I understand that the cost of acquisition will be calculated similarly by finding the FMV on 01/4/2001. 2. Capital gains will also be calculated similarly, as told by you in this video. Please clarify Thanks
Suggestion made a video on a property sold plot commercial and i bought a residential plot for the entire amount. Is property tax the zero inheritance? what period/ years i should not sell to avoid property gain tax exempted in resi investment
Sir, ek inherited property hai.100 Saal Purana.. jiska owner avi me hu..Mera pass documents hai..but documents me mention nhi hai, my great grandfather kitne me purchase kiye the...index kaise calculate Kr Sakta hu
Thank you sir for wonderful knowledge.my question is : How to find? My land is an agricultural or not,how to find? My land in municipal condoment area or not.
Thanks a lot for your valued guidance. Please guide , if the father has Nominated the property in name of one of the 4 sons..How can the sale of the property be accounted for. if it is to be distributed equally amongst all the four heirs.
Thanks sir 🙏for giving your valuable time, please answer whether the FMV valued on 1.04.2001 can be higher than the stamp duty value mentioned in the sales deed (Current sales deed)
Well explained. But you have not given the calculated income tax amount to be paid on capital gain for the examples you told. It's incomplete. Pls clarify one example where the property was purchased in 1998..
meri property 45 saal purani hai inherited hai dadaji ne papa ko di aur papa ne mujhe .. . present valuation 5.5 crs hai soo mujhe tax kitna dena padega govt. ko ab agar mein isko bech du toh ?? ? please suggest
If none of my ancester had purchased a piece of agricultural land for any consideration price, earlier situated in rural area but now happened to be in urban area, and I inherited the same land before it came to situate in urban area, and I sell it for money consideration, can it be subject to capital gain tax. Remember, nobody had paid any money for its acquition, hence no question of calculating its cost of acquisition. Can you clarify ?
I came across this video and it opened by eyes. But sir, I have a query, my grand father bought the property in 1977, he made a will and accordingly my mother got the property but she too expired and now my sister and I have done a partion deed in this year ie 2021. Now we both are selling this property ( land in residential area) to a developer. So how will be the tax calculated in such scenario. Also we don't know the value during that time of the property. Now, in 2021, how to know the value to which I need to sell it off , also then how to calculate .
Very useful & informative video. Sir, I wish to know how to fill ITR 2 online if a residential house owned by 4 four persons equal share and sale to 2 persons equal share details as under FMV 1.4.2001 40 L Indexed COA 135 L FVC 295 L LTCG 160 L LTCG for every Owner 40 L Investment as under to claim full exemption as under 1. Residential house 1st 25 L 2. Residential house 2nd 10 L 3. Tax saving bonds REC 5 L Total investment 40 L within time limit
If no clue as to supporting document as to cost of acquisition is available then only alternative is FMV determination for the age old property. Now, if it becomes too cumbersome and extraneous due to very old records not retrievable then can the COST be assumed zero. Means the whole sale proceeds becomes the CG and is it acceptable to ITD.
Thanks for the informative video. But how can we avoid capital gains tax on the inherited property . Can ee invest it on some land or building for exemption U/s 54 for inherited property. Pl clarify this aspect which is not covered under the above video. Tq.
How to calculate the property of constructed area if that property has 2500 square feet or 232.34 square metres how to calculate the value of construction on 2001
If a person got property in 1984 by a will by other person not related if legate sold it in the year 2024 Residential property is it necessary to pay capital gain
How to calculate LTCG on Inherited Property if cost of acquisition is not known. I have 80 years old house inherited from my grand father, House is on prime location and was built in 1947. We have done renovation of the same 4 times but bills of the same are not available. How to calculate LTCG on the same.?
short term capital gain tax bnta h 1 lkh december 2020 ko land sale ki ok itr b fill ni hui abi to kya sir jo tax 1 lkh h vo hm nxt year auguest 2022 tak pay krskte h with interest fund prob h abi to kya . tax hm bd m pay krskte h . or ITR fill krskte h tax bad m deskte h plz solve my poblem
An old man with low income ( non-taxable) has sold inherited property in 2022 and his income has become taxable in FY 2022-23. Whether he will have to pay tax on slab rate or at 20% of LTCG due to property sale?
I got a land in 2005 from my father . In the register deed dalil it is mention the land value is 240000 . Can i use that amount as fair market value to calculate capital gain tax. Please reply.
If i inherit a res.property with my wife and son from my vfather 37 yrs ago in bthe vration of 50 25 anf 25 , now i sell it, Will there be long term capital gain to all three seperately, and all shall be entitled to invest in section 54 c seperstely and purchsde 3 res propertied seperstely and avsil exemption seprrately.
Sir, Which value to consider for calculating LTCG under section-54 , arises by sale of resid.property. 1) If circle rate/property value for stamp duty "is more than" consideration value (sale deed value) in FY2015-16. So, which value to consider as purchase value?? Thanks,
Sir, my father purchased land in 1969 at a cost of Rs 2000. Then constructed house in 1973. In 2014 he written a will for 3 sons equal division. In 2015 very sad he died in 2015. We 3 brothers then divided in 3 equal part as per will and make in own name part wise from nagar nigam. Got separate house number. Now all three wants to sale...Or one person...Cost of one parte getting 60 Lac. And all 3 parts 1.8 Cr. Plz tell is this capital gain or how much we have to pay. In 2001 market value suppose 10 L...Then capital gail tax kya hoga sur kaise save karen.
For selling of ancesstral property in the lal dora and there is no registry in registrar office, then the amount deposited in the bank through the cheque is taxable or not. If yes, then the total amount received through the cheque will be treated as taxable. Please confirm this point.
I sold two plots of lands in Oct. 2021. Now I want to purchase one residential property from above sold plots proceeds. I want to know from you whether I will get capital gain benefit for both plots. If yes, under which section of Income Tax Act. For your kind Infomation the above plots are inherited property before 2004. Please reply at earliest. With regards.
Sir, suppose site/plot is purchased in 1965 for rs. 10000 and construction done in 1995 at 2 lakhs rupees , then cost of acquisition us Rs. 210000 or rs. 10000 or rs. 2 lakhs. I have inherited the property in 2016. Pl clarify. Thank you Hari Narayana
Thanks for the kind words. All videos have slides and description which is in english and should help understand what is being said. Please share video in your social networks.
When we sell plot of land,purchased before the year 2000,in income tax capital gain is calculated taking the circle rate of that plot for the year 2001 and multiplying it with index price for the year of sale divided by 100 to get acquisition cost. Then the indexed acquisition cost will be deducted from fair sell value of the property to find out capital gain. Now question arises, where shall I get the actual circle rate of the plot for the year 2001? Is there any government approved table of circle rate yearwise, wherfrom I can get the actual circle rate of that particular plot for the year 2001? Please help me.
You can approach the registering authority who will give the circle rate of your land.if it is not available you can approach a registered valuer of income tax who will find out the value and certify it.for this you have to give a fees
My father buy a house property in 1996-97 on power of attorney and its got registered in 2004-05 .kindly confirm cost if index value will be applicable on 96-97 or 2004-05
I sold land after dimentling house in 2020 which was inharited & constructed 40 years before. Is FMY on 01/01/2001will include the cast of house or only of land.
sir, Its looking the formula for indexed cost of accquistion is different from the question you solved . I think the formula that is written is wrong but the question is done by correct formula
ਸਾਹਿਬ ਸ਼੍ਰੀ ਜੀ ਇਹ ਬਹੁਤ ਹੀ ਸ਼ਾਨਦਾਰ ਅਤੇ ਸ਼ਲਾਘਾਯੋਗ ਵੀਡੀਓ ਏ,ਜਿਸ ਵਿੱਚ ਆਪ ਜੀ ਨੇ ਬਹੁਤ ਹੀ ਸੁੰਦਰ ਤਰੀਕੇ ਦੀ ਭਾਸ਼ਾ ਨਾਲ ਸਮਝਾਉਣ ਦਾ ਯਤਨ ਕੀਤਾ ਐ। ਬਹੁਤ ਬਹੁਤ ਧੰਨਵਾਦ ਆਪ ਜੀ ਦਾ❤
आप बहोत खुले दिल के आदमी है 🎉🎉
Thank you so much.. you ate the best.
This is one of the best explanation on Capital gain tax calculation in youtube.
Keep up the good work sir.
Bahut sunder tarike se apne smghaya hai. Dhanyawad Sir ji
बहुत बहुत धन्यवाद सिर इतना बढ़िया तरीके से बताने के लिए
Very nicely explained,
in short , simple & sweet language.
Thanks
Sir you gave detailed explanation.....very useful thank you so much😊❤
Thnx sir,your videos r really good and accurate.Keep doing this good work,it's a kind of social service.
Thanks for the kind words. Keep watching our videos.
@@TaxPundit by by
Thanks for video & good explanation. It's good attempt to educate people. I had wrong notion that cost of property inherited Will be zero.
In case property is very old & in village , please explain what's documents required for income tax . Or to prove ownership .
Clear thinking, clear explanations, good
Excellent! Clear explanation with all important details.
Thanks for your kind words
very good video. i got my doubts clarified. nicely put by you. Many thanks.
Ancestral property ke agar 5 legal heirs h aur hum ek ke naam kardete h toh tax kese show karege?
Thanks for valuable information, really I needed it.
My father died before so many years ago and we mutually distribute all my father's property and a shop came in my part and i sold out it in the same financial year so can i take the way of long term capital gain ?
Video is very easy to understand and informative.
grandmother se mili property par capital gain kaise calculate hoga?
Excellent guidance.Thanks a lot sir.Pl keep it up for new techiniques.
Good lecture. Knowledgeable
Thank you sir bahut acha aur sir kya purani pustaine jamin ke wealth tax bhi banta hai aur wealth tax yearly hota hai ya ek bar please🙏 bataneki niveden kartey hai
Very nicely ...clearly explained...very usefull
इतनी महत्वपूर्ण जानकारी के लिए बहुत बहुत धन्यवाद 🙏
सर एक प्रश्न का समाधान चाहता हूं.. क्या हाउस प्रॉपर्टी की सेल से हुए LTCG को बेटे के लिऐ हाउस प्रॉपर्टी खरीदने में इन्वेस्ट करके LTCG टैक्स exemption क्लेम कर सकते हैं..? 🙏
Sir your videos are very very valuable .please keep continue .Thanx
Sir ji, very good information. Sir if the inherited property (inherited 15 years ago from today) is sold last month at 100/- and from this received 100/- one buys a new property of 25/- within 2 years for example; what are the Tax implications?
I liked it so much that I immediately liked and subscribed.
Thanks for sharing this nice video . You have explained everything so clearly for inherited property.
My question is regarding a property purchased by me in 1997 and which I want to sell now.
1. I understand that the cost of acquisition will be calculated similarly by finding the FMV on 01/4/2001.
2. Capital gains will also be calculated similarly, as told by you in this video.
Please clarify
Thanks
excellent explanation
Very clear and concise
Thanks very good sir very clear explanation
Thank you Sir for your fantastic explaination 🙏🙏
Very very good explanation
Nice video.. Does the same apply for self constructed house ?
very good explanation
Nice information...but registered valuer will depend on sales instances only for valuation.
Very good video informative
Very knowledgeable thanks
Suggestion made a video on a property sold plot commercial and i bought a residential plot for the entire amount. Is property tax the zero inheritance? what period/ years i should not sell to avoid property gain tax exempted in resi investment
Sir, ek inherited property hai.100 Saal Purana.. jiska owner avi me hu..Mera pass documents hai..but documents me mention nhi hai, my great grandfather kitne me purchase kiye the...index kaise calculate Kr Sakta hu
Thanks for valuable information.
Thank you sir for wonderful knowledge.my question is : How to find? My land is an agricultural or not,how to find? My land in municipal condoment area or not.
Brilliant - answered all important questions in mind.
Thanks a lot for your valued guidance.
Please guide , if the father has Nominated the property in name of one of the 4 sons..How can the sale of the property be accounted for. if it is to be distributed equally amongst all the four heirs.
Thanks sir 🙏for giving your valuable time, please answer whether the FMV valued on 1.04.2001 can be higher than the stamp duty value mentioned in the sales deed (Current sales deed)
Sir, thank you, your video was v informative...God bless you...🙏
Well explained. But you have not given the calculated income tax amount to be paid on capital gain for the examples you told. It's incomplete. Pls clarify one example where the property was purchased in 1998..
Sir very good and informative video. Can I show cost of acquisition of inherited property as zero and pay 20 percent tax on entire sale consultation.
meri property 45 saal purani hai inherited hai dadaji ne papa ko di aur papa ne mujhe .. . present valuation 5.5 crs hai soo mujhe tax kitna dena padega govt. ko ab agar mein isko bech du toh ?? ? please suggest
If none of my ancester had purchased a piece of agricultural land for any consideration price, earlier situated in rural area but now happened to be in urban area, and I inherited the same land before it came to situate in urban area, and I sell it for money consideration, can it be subject to capital gain tax. Remember, nobody had paid any money for its acquition, hence no question of calculating its cost of acquisition. Can you clarify ?
Excellent information
VERY USEFUL INFORMATION , THANKS. KINDLY MAKE A VIDEO FOR Capital Gain Tax on Sale of Inherited Property IN AY 2024-25🙂🙏
Excellent video Thank you sir
Very informative and detailed
Thanks. Stay tuned.
Explained very lucidly. thank you.
I came across this video and it opened by eyes. But sir, I have a query, my grand father bought the property in 1977, he made a will and accordingly my mother got the property but she too expired and now my sister and I have done a partion deed in this year ie 2021. Now we both are selling this property ( land in residential area) to a developer.
So how will be the tax calculated in such scenario.
Also we don't know the value during that time of the property.
Now, in 2021, how to know the value to which I need to sell it off , also then how to calculate .
if more than two heirs then full value of consideration amount will also shown 50%????? in each case
Very nice and helpful
Very nice, informative
If a plot is agri on 1.4.2001 and becomes residential after few years than how to calculate
Excellent information 👌
Very useful & informative video. Sir, I wish to know how to fill ITR 2 online if a residential house owned by 4 four persons equal share and sale to 2 persons equal share details as under
FMV 1.4.2001 40 L
Indexed COA 135 L
FVC 295 L
LTCG 160 L
LTCG for every Owner 40 L
Investment as under to claim full exemption as under
1. Residential house 1st 25 L
2. Residential house 2nd 10 L
3. Tax saving bonds REC 5 L
Total investment 40 L within time limit
Is the method same for gifted property?
If no clue as to supporting document as to cost of acquisition is available then only alternative is FMV determination for the age old property. Now, if it becomes too cumbersome and extraneous due to very old records not retrievable then can the COST be assumed zero. Means the whole sale proceeds becomes the CG and is it acceptable to ITD.
please give exemple of resale of properties
Sir 1981 property pr kitna index hoga 2023
Thanks for the informative video. But how can we avoid capital gains tax on the inherited property . Can ee invest it on some land or building for exemption U/s 54 for inherited property. Pl clarify this aspect which is not covered under the above video. Tq.
How to calculate the property of constructed area if that property has 2500 square feet or 232.34 square metres how to calculate the value of construction on 2001
Whether the cost related to vacating the tenants in old inherited property should be deducted in calculating capital gain tax?
If a person got property in 1984 by
a will by other person not related if legate sold it in the year 2024
Residential property is it necessary to pay capital gain
How to calculate LTCG on Inherited Property if cost of acquisition is not known. I have 80 years old house inherited from my grand father, House is on prime location and was built in 1947. We have done renovation of the same 4 times but bills of the same are not available. How to calculate LTCG on the same.?
What if I'm selling the said ancestral land at no profit? Do I still need to pay tax?
short term capital gain tax bnta h 1 lkh december 2020 ko land sale ki ok itr b fill ni hui abi to kya sir jo tax 1 lkh h vo hm nxt year auguest 2022 tak pay krskte h with interest fund prob h abi to kya . tax hm bd m pay krskte h . or ITR fill krskte h tax bad m deskte h plz solve my poblem
Valuable information. Thank you very much
hello Sir, I have a question, when we get residential property (house) by WILL, if that be considered as the first residential property for heir?
An old man with low income ( non-taxable) has sold inherited property in 2022 and his income has become taxable in FY 2022-23. Whether he will have to pay tax on slab rate or at 20% of LTCG due to property sale?
I got a land in 2005 from my father . In the register deed dalil it is mention the land value is 240000 . Can i use that amount as fair market value to calculate capital gain tax. Please reply.
What about depreciation on property?
Very useful information.
If i inherit a res.property with my wife and son from my vfather 37 yrs ago in bthe vration of 50 25 anf 25 , now i sell it,
Will there be long term capital gain to all three seperately, and all shall be entitled to invest in section 54 c seperstely and purchsde 3 res propertied seperstely and avsil exemption seprrately.
Date and acquisitions value not known then how to do ir
Very nicely explained. Thanks
Wonderful information. Thank you.
Sir,
Which value to consider for calculating LTCG under section-54 , arises by sale of resid.property.
1) If circle rate/property value for stamp duty "is more than" consideration value (sale deed value)
in FY2015-16.
So, which value to consider as purchase value??
Thanks,
Mast explain kiya.
Aaisi property milnekebad immidiatly bechi ja sakti hai kya? To uska calculation short/ long term capital gain
Circle rate in 2001. for faridabad sec 45 not available. Pl help to circulate.
Cost improvement wat receipts are required to claim?
Sir, my father purchased land in 1969 at a cost of Rs 2000. Then constructed house in 1973. In 2014 he written a will for 3 sons equal division. In 2015 very sad he died in 2015. We 3 brothers then divided in 3 equal part as per will and make in own name part wise from nagar nigam. Got separate house number. Now all three wants to sale...Or one person...Cost of one parte getting 60 Lac. And all 3 parts 1.8 Cr. Plz tell is this capital gain or how much we have to pay. In 2001 market value suppose 10 L...Then capital gail tax kya hoga sur kaise save karen.
Sir can we purchase commercial property after selling residential property.
For selling of ancesstral property in the lal dora and there is no registry in registrar office, then the amount deposited in the bank through the cheque is taxable or not. If yes, then the total amount received through the cheque will be treated as taxable. Please confirm this point.
I sold two plots of lands in Oct. 2021. Now I want to purchase one residential property from above sold plots proceeds. I want to know from you whether I will get capital gain benefit for both plots. If yes, under which section of Income Tax Act. For your kind Infomation the above plots are inherited property before 2004. Please reply at earliest. With regards.
Very good video Sir, thank you
Welcome. Stay tuned for more videos.
Thanks Sir for good knowledge sharing.
Sir, suppose site/plot is purchased in 1965 for rs. 10000 and construction done in 1995 at 2 lakhs rupees , then cost of acquisition us Rs. 210000 or rs. 10000 or rs. 2 lakhs. I have inherited the property in 2016.
Pl clarify.
Thank you
Hari Narayana
बहुत बढ़िया।
Sir , can we invest in 2 rural or 2 urban agricultural properties from the long term or short term capital gain
good explanation and clarification, but had it been in English it would have been still excellent
Thanks for the kind words. All videos have slides and description which is in english and should help understand what is being said. Please share video in your social networks.
When we sell plot of land,purchased before the year 2000,in income tax capital gain is calculated taking the circle rate of that plot for the year 2001 and multiplying it with index price for the year of sale divided by 100 to get acquisition cost. Then the indexed acquisition cost will be deducted from fair sell value of the property to find out capital gain. Now question arises, where shall I get the actual circle rate of the plot for the year 2001? Is there any government approved table of circle rate yearwise, wherfrom I can get the actual circle rate of that particular plot for the year 2001? Please help me.
You can approach the registering authority who will give the circle rate of your land.if it is not available you can approach a registered valuer of income tax who will find out the value and certify it.for this you have to give a fees
My father buy a house property in 1996-97 on power of attorney and its got registered in 2004-05 .kindly confirm cost if index value will be applicable on 96-97 or 2004-05
Best information sir
I sold land after dimentling house in 2020 which was inharited & constructed 40 years before. Is FMY on 01/01/2001will include the cast of house or only of land.
sir, Its looking the formula for indexed cost of accquistion is different from the question you solved . I think the formula that is written is wrong but the question is done by correct formula
Thanks for a very informative video. Kindly tell how to calculate the value of a property which is constructed by me on the land purchased by me.