The law (Sec 54) only states that an amount equal to or more than the capital gains amount be invested…
The original investment amount that is repaid at the time of maturity will not be taxable as it amounts to…
Capital gains tax is a part of income tax. In other words, when you earn income (interest, salary, rent, etc),…
When one lives in a house owned by oneself, there is no question of paying any rent or producing any…
Mutual funds do not pay tax on their transactions, either short-term or long-term on account of the specific exemption conferred…
On the portion of the loan taken from your father, if you pay interest, the same will be deductible u/s…
As per Sec. 23(2) of the Income Tax Act, the term “self occupied property” includes property that cannot be occupied…
There is a dividend distribution tax @14.1625% payable by the MF directly to the exchequer in the case of debt-based,…
The HRA deduction is available only upon payment of rent by the taxpayer. If husband and wife are both paying…
Standard deduction on employee salary has been deleted by the Finance Act 2005 but family pension, which attracts a deduction…
As per the Income Tax Act, for any tax payer, one house property is exempted from tax. Also, the interest…
The long-term capital gains tax rate of 10% without indexation is only applicable for listed shares and mutual fund units
You will get the deduction up to Rs 1 lakh only if you contribute to the avenues covered by Sec…
You are correct in observing that for any investor the face value of the units is irrelevant and it is…
Premiums paid by an individual for life cover taken for self, spouse, and children are eligible for the deduction u/s…
The notification is to do with how the ELSS scheme is structured. It doesn’t speak of any tax benefit.
The answer will depend upon the way the property is settled. If the share of each one is well demarked…
If your total income including capital gains, is below the tax threshold applicable to you, then you do not have…
