Sun, December 1, 2024

[ Sun, Dec 01st 2024 ]: Bill Williamson

Warning over cybercrime surge in South Africa this holiday season

[ Sun, Dec 01st 2024 ]: Bill Williamson

40 per cent of Ugandans live below the poverty line

[ Sun, Dec 01st 2024 ]: Bill Williamson

The BIBF and Tamkeen launch Sales Graduate Development Programme for Bahraini job seekers

[ Sun, Dec 01st 2024 ]: Bill Williamson

RevFin eyes financing 2 mn vehicles, Rs 20k cr loan payment in 5 yrs: CEO

[ Sun, Dec 01st 2024 ]: Bill Williamson

5-Day Working Week For All Bank Employees Likely From December

[ Sun, Dec 01st 2024 ]: Bill Williamson

Can you exceed your credit card limit? Pros, cons, and tips to manage it
Sat, November 30, 2024

[ Sat, Nov 30th 2024 ]: Bill Williamson

CBDT extends income tax return filing deadline for FY24 to Dec 15

[ Sat, Nov 30th 2024 ]: Bill Williamson

A boomer moved to Panama so her retirement would .. ing to find a job and her dream is slipping away.

[ Sat, Nov 30th 2024 ]: Bill Williamson

December horoscope 2024: Know about career, health & relationship for your zodiac sign

[ Sat, Nov 30th 2024 ]: Bill Williamson

Universal healthcare - lessons from the past

[ Sat, Nov 30th 2024 ]: Bill Williamson

'Not exactly a political powerhouse': Conservativ .. left scratching their heads at Trump's labor pick

[ Sat, Nov 30th 2024 ]: Bill Williamson

Tax Software vs a Tax Professional: Which Should You Choose?

[ Sat, Nov 30th 2024 ]: Bill Williamson

Vietnam approves $67 billion high-speed railway project between Hanoi and Ho Chi Minh city

[ Sat, Nov 30th 2024 ]: Bill Williamson

India Inc thrilled over FinMin's proposal to hike FDI limit in insurance sector to 100%

[ Sat, Nov 30th 2024 ]: Bill Williamson

French finance minister says budget can still be improved

[ Sat, Nov 30th 2024 ]: Bill Williamson

Unlocking Africa's Economic Potential: Sean Micha .. Role Of Decentralized Edge And Quantum Computing

[ Sat, Nov 30th 2024 ]: Bill Williamson

TVS Holdings receives RBI approval for acquisitio .. change in management of Home Credit India Finance

[ Sat, Nov 30th 2024 ]: Bill Williamson

FM Sitharaman urges regional rural banks to onboa .. digital services like mobile banking by Dec 2024

[ Sat, Nov 30th 2024 ]: Bill Williamson

JSW MG surges in sales: Is this the disruption electric car market needs?

[ Sat, Nov 30th 2024 ]: Bill Williamson

Real estate query: Leasehold vs Freehold Property .. at's the difference and which is more beneficial?

[ Sat, Nov 30th 2024 ]: Bill Williamson

Ripple poised for New York approval of stablecoin, set to enter regulated US crypto market

[ Sat, Nov 30th 2024 ]: Bill Williamson

Cyprus Business Now: tourism performance, government surplus, SME funding

[ Sat, Nov 30th 2024 ]: Bill Williamson

Tax Query: Long and short of residential capital gains tax

[ Sat, Nov 30th 2024 ]: Bill Williamson

Meet 9 influential Africans - Report

[ Sat, Nov 30th 2024 ]: Bill Williamson

Lombard Odier indicted in Switzerland for money laundering

[ Sat, Nov 30th 2024 ]: Bill Williamson

Help! I have a job and side hustle making Sh82,000 per month, yet I live hand-to-mouth

[ Sat, Nov 30th 2024 ]: Bill Williamson

18 Indian billionaires who built their wealth in Africa
Fri, November 29, 2024

[ Fri, Nov 29th 2024 ]: Bill Williamson

Santander's European Co-Head of Leveraged Finance Leaves Bank

[ Fri, Nov 29th 2024 ]: Bill Williamson

Uganda government to wholly finance $4 billion oil refinery through equity

[ Fri, Nov 29th 2024 ]: Bill Williamson

No TDS on cash withdrawal by foreign representations from Dec 1: Income Tax department

[ Fri, Nov 29th 2024 ]: Bill Williamson

Meet Top 10 Companies Revolutionizing the Market and Transforming Their Sectors

[ Fri, Nov 29th 2024 ]: Bill Williamson

Jack Ma returns to Alibaba campus, as China moves to boost business confidence

[ Fri, Nov 29th 2024 ]: Bill Williamson

Turnarounds uncertain at Macy's, Kohl's, Nordstrom as department stores enter the holiday season

[ Fri, Nov 29th 2024 ]: Bill Williamson

Nigeria and France sign infrastructure and finance deals

[ Fri, Nov 29th 2024 ]: Bill Williamson

Dubai unveils major new strategies for innovation, resilience and food security

[ Fri, Nov 29th 2024 ]: Bill Williamson

India Q2 FY25 GDP Growth Data 2024 updates Live: Economic growth slows to 5.4%

[ Fri, Nov 29th 2024 ]: Bill Williamson

Adani saga a week on: market cap loss, negative outlook, cancelled deals & a fightback by group

[ Fri, Nov 29th 2024 ]: Bill Williamson

GDP report: international business powers island's economy

[ Fri, Nov 29th 2024 ]: Bill Williamson

NBK-Egypt reports $104.8mln in net profit by the end of Q3 2024

[ Fri, Nov 29th 2024 ]: Bill Williamson

US business community calls for deeper China-US economic ties

[ Fri, Nov 29th 2024 ]: Bill Williamson

Breaking barriers in finance: How ATME is set to .. ne regional capital markets with RWA tokenisation

[ Fri, Nov 29th 2024 ]: Bill Williamson

15 up-and-coming AI-powered fintech startups, according to top VCs

[ Fri, Nov 29th 2024 ]: Bill Williamson

CreditAccess Grameen raises approx Rs 390 crore in co-financing from DEG and Citi

[ Fri, Nov 29th 2024 ]: Bill Williamson

EPFO's Central Board of Trustees to meet on Novem .. veral investment related decisions to be taken up

[ Fri, Nov 29th 2024 ]: Bill Williamson

ERP vs CRM: Understanding the Key Differences

[ Fri, Nov 29th 2024 ]: Bill Williamson

I put my dreams on hold for a stable career in fi .. 6-figure salary to move to Hawaii and start over.

[ Fri, Nov 29th 2024 ]: Bill Williamson

Zenith Bank Expands Global Footprints With Paris Branch Launch

[ Fri, Nov 29th 2024 ]: Bill Williamson

CreditAccess Grameen enters into co-financing arrangement with DEG and Citi

Tax Query: Long and short of residential capital gains tax

Under Section 54 of the Income Tax Act, 1961, you can claim an exemption from capital gains tax on the sale of a long-term residential property if the proceeds are reinvested into another residential property within the prescribed timelines—one year before or two years after purchase,
The article from The Hindu Business Line discusses the nuances of capital gains tax on residential property in India. It explains that when selling a residential property, the tax implications depend on whether the gains are classified as long-term or short-term. Long-term capital gains (LTCG) arise if the property is held for more than 24 months, taxed at 20% with indexation benefits, which adjust the purchase price for inflation, thereby reducing the taxable gain. Short-term capital gains (STCG) apply if the property is sold within 24 months of purchase, and these are taxed at the individual's applicable slab rate. The article also touches upon exemptions available under sections like 54 and 54F of the Income Tax Act, which allow for tax exemptions if the gains are reinvested in another residential property or specified bonds within certain time frames. Additionally, it highlights the importance of understanding the tax implications before selling property to optimize tax liability.

Read the Full Business Line Article at:
[ https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-long-and-short-of-residential-capital-gains-tax/article68927113.ece ]