How to compute capital gain and how to get exemption from tax - where to invest to get exemption of Income tax
-
If a person sells house site and he gets some lakhs of rupees - where to invest this amount to get exemption from tax. How to notify this to the IT Department. Within how many days the investment has to be made. Am told if invested in Capital Gain Bonds issued by Govt. the capital gain is exempted. If at any time the Bonds are not available how to investment and take exemption.
-
Answer:
Please go through the web link. It will give you full answer for your question. http://in.taxes.yahoo.com/taxcentre/ncapgains.html Regarding notifying to the IT Department, in your statements you have to show the capital gains. And you have to mark a note about the new asset in your returns. This work will be done by your CA.
vieses s at Yahoo! Answers Visit the source
Related Q & A:
- If a gross monthly income of a household with 2 kids (with both adults working) is £2K how much will be a tax and NI?Best solution by Yahoo! Answers
- Can a non-profit charity based in India get 301 (c) tax exemption in the US?Best solution by Yahoo! Answers
- Where should I sign the Income Tax Forms?Best solution by forbes.com
- How to get a PR?what are the conditions to get a PR?Best solution by Yahoo! Answers
- How much should consultants pay for income tax? should we adhere to the tax table still?Best solution by Yahoo! Answers
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.