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Q&A

Tax benefits on home loans are available only if the borrower is also a property owner. (Representative Image) (Madhurima Nandy/Mint)

Tax exemption on long-term capital gains: Can two properties be bought?

8 min read . 13 Apr 2025

You can file a suit for partition in the court of appropriate jurisdiction to claim your share in the HUF property if you cannot convince your brother to give you your legitimate share.

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

1 min read . 26 Mar 2025

The fair market value as of 1st April 2001 cannot be higher than the stamp duty value of the property on that date. ((iStockphoto))

What amount must be invested in residential house to claim an exemption for LTCG

2 min read . 26 Mar 2025

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Total number of income tax returns filed upto Feb 28 stand at 9.11 crore

Is the dividend reinvested under ELSS scheme eligible for deduction?

1 min read . 25 Mar 2025

The extent of tax benefits for home loans would depend on whether you opt for a new or old tax regime. (Pixabay)

What income tax benefits are available for home loans?

3 min read . 19 Mar 2025

One of the most important pieces of advice you need to follow for your investments is that in addition to diversification, periodic review and rebalancing of your investments are equally important. (Mint)

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

2 min read . 18 Mar 2025

Section 54B provides for exemption of taxable long-term capital gains in respect of the sale of agricultural land if another agricultural land is bought within two years from the date of sale of the land. (Pexel)

How exemption on LTCG for the sale of agricultural land can be claimed?

2 min read . 02 Mar 2025

The law regarding succession to HUF property also changed in 2005.

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

2 min read . 24 Feb 2025

In contrast, section 54, which applies to long-term capital gains on the sale of a residential house, requires investment only of long-term capital gains.

How is an exemption under Section 54F for LTCG on land sale computed?

2 min read . 23 Feb 2025

Close up hand of man signing signature loan document to home ownership. Mortgage and real estate property investment

Can my wife add unclaimed home loan interest to acquisition cost?

2 min read . 09 Feb 2025

If the property was acquired prior to 1 April 2001, the fair market value of the property as of 1 April 2001 can be taken as the cost of acquisition of the person.

How tax on the sale of an inherited property is computed?

2 min read . 10 Feb 2025

A gift deed should duly be registered with the appropriate authority.

How can I secure full ownership without legal documentation?

2 min read . 04 Feb 2025

Section 54F exempts long-term capital gains on assets (other than a house) if proceeds are invested in a residential house within the prescribed period.

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

2 min read . 04 Feb 2025

If the employer finds that a higher or lower tax is being deducted than what is required, the employer can revise the tax to be deducted accordingly.

Are you an employee or consultant? Your income tax deductions depend on it

2 min read . 30 Jan 2025

As per the present tax laws, a person can file only ITR for only one year at any given point of time between April and December of the year following the financial year. (Pixabay)

Nil tax liability, but need ITR for a home loan: Where to start?

2 min read . 29 Jan 2025

Depending on its original source, pensions can be taxed under the head of Salaries or income from other sources.

How are various pensions and annuities taxed in India?

1 min read . 29 Jan 2025

Please note that tax deducted from the source cannot be paid unless you have a valid and active TAN.

Can one enter a taxable transaction with a non-resident without a TAN?

1 min read . 17 Jan 2025

How can capital gains tax be avoided when selling a flat and constructing a new house?

Where to keep money until house investments are made for Section 54 exemption?

2 min read . 11 Jan 2025

Profits on jewellery sales are treated as long-term capital gains if the jewellery is sold after 24 months. (Pixabay)

Planning to sell your jewellery? Know income tax rules here

2 min read . 08 Jan 2025

If the daughters want to pay tax, they can pay 20% on indexed long-term capital gains or 12.50% on unindexed long-term capital gains.

Capital gains on inherited property: Can higher FMV than stamp duty be used?

2 min read . 22 Dec 2024