CGI
Capital gains and property
Shares, mutual funds, F&O, selling or buying a house, rent, savings schemes, the tax angle.
For: investors, property owners and families planning their savings.
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- Rental incomeRent is taxed after a 30% standard deduction and municipal taxes.
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- Capital gains rate finder by asset and sale date (before or after 23 July 2024)The tax on a gain depends on what you sold, how long you held it and whether you sold before or after 23 July 2024. We read your buy and sell dates and tell you, asset by asset, whether the gain is short or long term, the rate, and the section under the old and new Income-tax Act.
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- Capital loss set-off and carry forward with a timely return, Sec 108, 109, 111, 121 (old 70, 71, 74 and 80)A capital loss can cut your capital gains tax this year and for up to 8 more years, but only if you file your return on time and show it. Short-term losses can be used against any gain; long-term losses only against long-term gains. We map every loss, apply it in the best order and make sure it is carried forward in your return.
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- Debt mutual fund and specified mutual fund gains, Sec 76 (old 50AA)Debt fund units bought on or after 1 April 2023 are always taxed as short-term gains at your slab rate, however long you hold them. Units bought before that date are long term after 24 months and taxed at 12.5%. We read your mutual fund statement, test each fund and purchase date, and report the right figure.
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- Section 54, 54F, 54ECSave capital gains tax by reinvesting: house to house (Section 54), any asset to house (54F), or specified bonds up to ₹50 lakh within 6 months (54EC).
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- Shares and mutual fundsListed shares and equity funds held over 12 months: 12.5% above ₹1.25 lakh.
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- Sec 85 (old 54EC) bonds within 6 months, up to ₹50 lakhIf you sell land or a building held long term, you can save tax on up to ₹50 lakh of the gain by putting it into notified 5-year bonds (NHAI, REC and others) within 6 months of the sale. We work out how much to invest, check which bonds are open, help with the application and report the exemption.
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- Broker tax P&L to Schedule CG and Schedule 112A (Zerodha, Groww and others)Your broker's tax P&L is a starting point, not a return. We merge reports from every broker and fund house, fix missing buy prices, bonus and split adjustments and the 31 January 2018 values, match everything with your AIS, and fill Schedule CG and Schedule 112A so the return does not draw a mismatch notice.
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- Capital Gains Account Scheme 1988 deposit, use and withdrawalIf you sold a house, land or other long-term asset and have not bought the new house by the time you file your return, you must park the unused gain in a Capital Gains Account at an authorised bank to keep the exemption. We work out how much to deposit, help open the right account, plan each withdrawal with Forms C and D, and get the Assessing Officer's approval to close it. The exemption itself is CGN-IMM-01, CGN-EXM-01 and PRP-SEL-03.
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- Listed shares and equity mutual fund gains, Sec 196 and 198 (old 111A and 112A; ₹1.25 lakh exemption, 31 January 2018 grandfathering)When you sell listed shares or equity mutual funds, short-term gains are taxed at 20% and long-term gains above ₹1.25 lakh at 12.5% (for sales from 23 July 2024). We pull your broker and mutual fund statements, apply the 31 January 2018 cost rule for old holdings, and fill Schedule CG and Schedule 112A so the return matches your AIS.
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- Sec 86 (old 54F) exemption for gains on assets other than a houseIf you sell shares, land, gold or any non-house asset held long term and use the sale money to buy one house, the gain is exempt in proportion to what you invest. You must not own more than one other house on the date of sale. We check eligibility, compute the exempt share, guide the CGAS deposit and file the claim.
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- F&O and intraday as business income, with tax audit check, Sec 43(5) and 44AB (now 63)Profits and losses from F&O are non-speculative business income and intraday equity is speculative business income, so they go in ITR-3, not under capital gains. We compute turnover the ICAI way, check if a tax audit applies, prepare the P&L and balance sheet in the return, and carry forward losses so you can use them later.
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- Foreign shares, RSU and ESOP sale with Schedule FAShares of a foreign company are not listed in India, so they are long term only after 24 months: long-term gains are taxed at 12.5% and short-term gains at your slab rate. You must also list every foreign account and share in Schedule FA every year, even if you sold nothing. We compute gains using your vest values as cost, convert to rupees, fill Schedule CG, FA and Form 44 (old Form 67), and check for missed earlier years.
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- Property saleProperty held over 24 months: 12.5% without indexation, or 20% with indexation if bought before 23 July 2024.
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- Property sale computation, 12.5% or 20% with indexation for property bought before 23 July 2024, Sec 112If you are a resident and sell a property bought before 23 July 2024, the law lets you pay the lower of 12.5% on the plain gain or 20% on the gain after indexation. We compute both, pick the lower, and report it correctly in your return.
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- Sale of residential property with Sec 82 (old 54) exemptionIf you sell a house you held over two years and put the gain into another house in India, the gain is exempt up to the amount you reinvest (capped at ₹10 crore). We compute the gain, test the timelines, open or guide the Capital Gains Account if the new house is not ready, and report the exemption in your return.
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- Tax harvestingBook up to ₹1.25 lakh of long-term gains tax-free every year, and book losses to cut taxable gains.
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- TDS on property dealsBuying from a resident for ₹50 lakh or more? You deduct 1% TDS.
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- Atal Pension Yojana: enrol, change pension, exitAtal Pension Yojana gives a fixed monthly pension of ₹1,000 to ₹5,000 from age 60, in return for small monthly, quarterly or half-yearly contributions auto-debited from your...
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- Broker statement and F&OIntraday is speculative business, F&O is non-speculative business income, and both go in ITR-3.
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- Broker tax P&L and CAS (CAMS/KFin) into Schedule CG and Sec 198 (old 112A)Your broker's tax P&L and the MF capital gains statement from CAMS and KFintech list every sale.
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- Choosing term insurance cover amount and policy termTerm insurance pays your family a lump sum if you die during the policy term.
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- Death claim for a deceased family member's life policyWhen a family member dies, their life insurance pays the nominee or legal heirs.
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- Health claim rejection: insurer grievance and Insurance Ombudsman complaintIf your health insurer rejects or cuts your claim, you can challenge it for free, first with the insurer and then with the Insurance Ombudsman.
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- Health insurance: porting to another insurer and migrationPorting lets you move your health policy to another insurer at renewal without losing the waiting periods you have already served.
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- Home loan tax benefits, Sec 22(1)(b) (old 24(b)) interest and Sec 123 (old 80C) principalIf you pay a home loan, you can cut your taxable income by the interest (up to ₹2 lakh on a home you live in) and the principal (within ₹1.5 lakh) under the old regime.
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- Inherited property: mutation and later saleWhen you inherit a property, there is no tax on receiving it, but the records must be moved to your name before you can sell or rent it cleanly.
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- LIC and traditional policy: continue, surrender or make paid-upMany people hold LIC or endowment policies that give low returns and want out.
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- Maturity proceeds taxability, Sec 11 (old 10(10D)) and TDS Sec 393 (old 194DA)Most life policy maturity money is tax-free, but not all.
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- Motor insurance own-damage and third-party claimAfter a vehicle accident, the insurer pays for your own vehicle's repair under the own-damage cover, and injury or death of others is compensated through the third-party cover.
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- PMJJBY and PMSBY: enrol, renew and claimPMJJBY gives ₹2 lakh life cover for ₹436 a year, and PMSBY gives up to ₹2 lakh accident cover for ₹20 a year, both auto-debited from a bank account.
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- Property due diligence before buying: title, encumbrance, approvals and RERABefore you pay anything for a property, we check that the seller really owns it, that it is free of loans and cases, and that the building is approved and RERA registered.
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- Rental income, rent agreement and TDS on rent under Sec 393 (old 194-IB)When you let out a home, the rent is taxed as house property income after a 30% deduction, and a tenant paying over ₹50,000 a month must cut TDS once a year.
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- RERA complaint for delayed possession (refund or delay interest)If your builder has not handed over your flat on time, RERA lets you either take your money back with interest or stay and get interest for every month of delay.
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- Selling a house with Sec 82 (old 54) exemption and the Capital Gains Account SchemeIf you sell a house and put the long-term gain into another house, the gain is not taxed.
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- Senior Citizens Savings Scheme account: open, extend, closeSCSS is a 5-year government deposit for senior citizens that pays 8.2% a year (rate for October to December 2026), with interest paid every quarter and up to ₹30 lakh per person.
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- Stamp duty and registration of a sale deed in Delhi (DORIS)In Delhi you pay stamp duty and a 1% registration fee on the higher of the price and the circle rate, then register the deed at the Sub-Registrar office.
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- Sukanya Samriddhi Yojana account: open, deposit, withdraw, closeSukanya Samriddhi is a government savings account for a daughter that currently pays 8.2% a year, with deposits from ₹250 to ₹1.5 lakh a year for 15 years and maturity at 21 years.
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- TDS on property purchase, Sec 194IA and Form 26QB (now Sec 393(1) and Form 141)When you buy a property worth ₹50 lakh or more, you must cut 1% TDS from each payment to the seller and deposit it with the tax department.
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- ULIP taxation and the ₹2.5 lakh premium ruleULIP payouts used to be fully tax-free.
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Questions this department answers most
Free to read. Each answer has four parts: Facts, Provisions and law, Analysis, Conclusion.
- LTCG vs STCG: Master Capital Gains Rate TableEvery asset class, holding period, tax rate, and exemption, post Budget 2024 changes effective July 23 2024. The rate changes are the most significant in a decade. Kno...
- ESOP: Perquisite Tax at Exercise, Capital Gains Tax at SaleESOP (Employee Stock Option Plan) is taxed TWICE. First at exercise: the difference between fair market value and exercise price is taxable as salary perquisite, emplo...
- LTCG on Equity Shares and Equity MF: 12.5% (Section 198, old 112A)The most frequently triggered capital gains for salaried investors. Budget 2024 raised rate from 10% to 12.5% and raised the exemption from ₹1L to ₹1.25L. Both equity...
- Capital gains questioned in scrutinyFor capital gains, the officer checks sale value, cost, dates and any exemption claimed. You need purchase and sale proof and evidence for exemption conditions.