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What amount must be invested in a residential house to claim an exemption for long-term capital gains?

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-ter... Read More


Can a sister born before 2005 claim her share in the father's HUF property?

New Delhi, March 26 -- 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... Read More


Income tax news: Is the dividend reinvested under ELSS scheme eligible for deduction under section 80C?

New Delhi, March 25 -- I 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 t... Read More


What income tax benefits are available for home loans?

New Delhi, March 19 -- I am currently working in Mumbai. I am currently residing in a rented apartment and looking forward to purchasing a flat for investment purposes in Bhubaneshwar, for which I wil... Read More


Should I invest in multiple schemes of the same mutual fund category?

New Delhi, March 18 -- I am 35 and investing in some mutual fund schemes through SIPs. The funds where SIPs are running are ICICI Small Cap, Kotak Small Cap, SBI Small Cap, Nippon Small Cap, and HDFC ... Read More


How exemption on long-term capital gains for the sale of agricultural land can be claimed?

New Delhi, March 2 -- For agricultural purposes, I intend to sell my urban agricultural land within the municipal limits, which has been repurchased for ten years. How can I save capital gains tax? Ca... Read More


How are HUF assets distributed on the death of a coparcener?

New Delhi, Feb. 24 -- I have listed shares and fixed deposits with a few banks in my HUF account. I have two sons and a daughter. All are married. After my death, how will the HUF assets be transferre... Read More


How exemption under Section 54F for long-term capital gains on the sale of a plot of land is computed?

New Delhi, Feb. 23 -- I have sold a plot of land for Rs.67 lakh. After indexation, the taxable long-term capital is around Rs35.40 Lakh. If I invest the long-term capital gains of Rs35.40 lakh in a re... Read More


Long-term capital gains: How tax on the sale of an inherited property is computed?

New Delhi, Feb. 8 -- Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital g... Read More


Do I need to repay my home loan to claim a long-term capital gains exemption?

New Delhi, Feb. 4 -- I purchased a flat worth Rs.50,00,000 on 15/4/2024, against which I took a home loan. On 15/10/2024, I sold my 10 years of commercial property for Rs.45,00,000. So, to get long-te... Read More