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Professional Assistance for Capital Gains Tax Filing
Whether you've sold property, stocks, mutual funds, bonds, gold, or any other asset, we're here to help you retain more of your earnings.
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Capital Gain Income from shares and property
Cryptocurrency or virtual digital assets income
Declaration of directorship in any Indian Company
Includes salary income from more than 1 employer
Income u/s 44AD & 44ADA. (Presumptive Income)
Assets and Liabilities schedule declaration wherever applicable
Profit or loss from the sale of stocks, mutual funds
Multiple house property income
Capital Gain Income from shares and property
Income from lottery
Income from other sources
Futures and Options income
Who Can Buy this Assisted Capital Gains Plan?
Capital Gains Tax Filing: Expert assistance in filing capital gains taxes for individuals with gains from listed shares, mutual funds, real estate, and more.
Crypto Gains Assistance: Tailored support for calculating and filing taxes on cryptocurrency gains.
Expert Guidance on Exemptions: Assistance in utilizing exemptions under Sections 54F, 54EC, and others to minimize your tax liabilities.
Capital Gains Computation: Accurate calculation of your capital gains and tax obligations, managed by professionals.
Capital gains can greatly affect your tax liability. Our experts are here to help you file accurately, claim all applicable exemptions, and reduce your tax burden.
Case Study 1
Scenario:
I want to sell a part of my own land. Is there any way to save on capital gains tax?
Solution
If the land is held for more than 24 months, it qualifies as a long-term capital asset. Conversely, if the land is held for less than 24 months, it is considered a short-term capital asset.
For short-term capital gains, the profits are taxed according to applicable income tax slab rates. However, for long-term capital gains, there are two options available to reduce the tax burden.
The first option, under Section 54F of the Income Tax Act, offers an exemption if the sale proceeds are used to purchase or construct a residential property. To qualify, the individual must invest the proceeds within two years after the sale or one year before the sale date. Alternatively, if the property is constructed within three years, and the entire sale consideration is invested, the exemption can also be claimed.
The second option, under Section 54EC, allows you to invest in capital gains bonds issued by certain government-backed financial institutions, such as REC (Rural Electrification Corporation), NHAI (National Highway Authority of India), PFC (Power Finance Corporation), and RFC (Railway Finance Corporation). To qualify for the exemption under Section 54EC, only the indexed long-term capital gains need to be invested in these bonds, not the entire sale consideration.
Under Section 54EC, only a portion of the sale proceeds (up to Rs. 50 lakh) can be claimed as an exemption in a single financial year. The investment must be made within six months of the property sale, even if this period extends beyond the income tax return filing deadline.
Case Study 2
Scenario:
As an NRI residing in Canada, I am faced with a situation where my traditional house property in India is being sold. Now I want to save tax, and that’s why I am seeking advice. Can you properly guide me?
Solution
To minimize long-term capital gains tax, a taxpayer has two options under the Income Tax Act (ITA). First, under Section 54, they can invest the capital gains in a residential property in India. This allows the purchase of a new residential property either one year before the sale, within two years after the sale, or the construction of a new property within three years after the sale.
Alternatively, under Section 54EC, the taxpayer can invest the capital gains in specific long-term bonds issued by entities such as the National Highways Authority of India (NHAI) or the Rural Electrification Corporation Limited (RECL). The investment must be made within six months of the property’s sale to qualify for the tax exemption.
Case Study 3
Scenario:
I had an LTCG of Rs.50 lakhs on the sale of a residential property in Jaipur in 2023. However, I am not ready to reinvest the LTCG amount to purchase a new property immediately. How can I save tax?
Solution
If the taxpayer is unable to immediately invest in a new property, they can deposit the long-term capital gains (LTCG) in a Capital Gains Account Scheme (CGAS) until they are ready to reinvest and claim the Section 54 exemption. However, the funds must be reinvested within two years of the deposit to qualify for the exemption. If the taxpayer fails to reinvest the amount within this time frame, the exemption will be revoked.