Another new project in Noida :

sunshinehelios.com

Website is excellent, no idea about ground reality..Even could not find the builder details..But the concept and amenities are excellent..

Has anyone got any clue about builder and any completed project by him.

Surprisingly no broker is also talking about this project.
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  • Originally Posted by fatichar
    Yes, I read the doc again, and found that what you wrote is correct.

    This are much better now!


    Shaitaan,

    you can pay either

    1. 10% of 44L = 4.4 L

    or

    2. apply indexation to 18L, meaning the present value of "18L in 2002". This would roughly be around 40L. Now gain = 62 - 40 = 22L. Pay 20% tax on this = 4.4 L

    Both same :)

    yep because of my would-be wife :) She works in Gurgaon
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  • Originally Posted by fatichar
    Yes, I read the doc again, and found that what you wrote is correct.

    This are much better now!


    Shaitaan,

    you can pay either

    1. 10% of 44L = 4.4 L

    or

    2. apply indexation to 18L, meaning the present value of "18L in 2002". This would roughly be around 40L. Now gain = 62 - 40 = 22L. Pay 20% tax on this = 4.4 L

    Both same :)


    You relieved me, at least it is reduced to 4.4 L. I definately give u a party after getting possesion in helios. I will try to confirm the same from somebody.
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  • Shaitaan bhai,

    may be you can save more. Which month in 2012 did you sell the old house? When did you purchase the new house? For what amount? Also, do you own any other house?
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  • Folks,
    I have created a FB group for our Sun Shine helios project. We do not have a central place for all our discussion related to Helios. IREF is good for now, but lets start using FB platform for the long run. It provides a much better channel for communication.

    Here is the link
    http://www./groups/340997732663704/

    Please Join..
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    • Originally Posted by fatichar
      Shaitaan bhai,

      Originally Posted by fatichar
      may be you can save more. Which month in 2012 did you sell the old house? When did you purchase the new house? For what amount? Also, do you own any other house?


      I sold in August 2012 , 62 lac ( rest is black you know, helios prices ), and purchaced in the same month Aug 2012 ( since i was getting good option in helios ), I have invested in sec. 137 also. but that is 2+1 bhk, does it really matters ??? how does it help me in saving tax?? You can throw some light on this.

      BTW, in helios what is your tower and floor no.?? I just want to know it? if you r unconfortable than also it is fine. I won't ask u again.

      I sold in August 2012 , 62 lac ( rest is black you know, helios prices ), and purchaced in the same month Aug 2012 ( since i was getting good option in helios ), I have invested in sec. 137 also. but that is 2+1 bhk, does it really matters ??? how does it help me in saving tax?? You can throw some light on this.

      BTW, in helios what is your tower and floor no.?? I just want to know it? if you r unconfortable than also it is fine. I won't ask u again.

      I sold in August 2012 , 62 lac ( rest is black you know, helios prices ), and purchaced in the same month Aug 2012 ( since i was getting good option in helios ), I have invested in sec. 137 also. but that is 2+1 bhk, does it really matters ??? how does it help me in saving tax?? You can throw some light on this.

      BTW, in helios what is your tower and floor no.?? I just want to know it? if you r unconfortable than also it is fine. I won't ask u again.

      I sold in August 2012 , 62 lac ( rest is black you know, helios prices ), and purchaced in the same month Aug 2012 ( since i was getting good option in helios ), I have invested in sec. 137 also. but that is 2+1 bhk, does it really matters ??? how does it help me in saving tax?? You can throw some light on this.

      BTW, in helios what is your tower and floor no.?? I just want to know it? if you r unconfortable than also it is fine. I won't ask u again.
    CommentQuote
  • Originally Posted by tyagi_ab
    Folks,
    I have created a FB group for our Sun Shine helios project. We do not have a central place for all our discussion related to Helios. IREF is good for now, but lets start using FB platform for the long run. It provides a much better channel for communication.

    Here is the link
    http://www./groups/340997732663704/

    Please Join..


    Sir, this link is not working. Please check.
    CommentQuote
  • If you invested in UC property, then no chance of saving. The new house must either be RTM, or self constructed. Just go through the document I mentioned. It has all the rules explained.

    I am on 10th floor in C block.
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  • Originally Posted by shaitaan
    Sir, this link is not working. Please check.

    www ke baad facebook dot com daalo.
    CommentQuote
  • here is the correct FB link

    www dot facebook dot com/groups/340997732663704/
    CommentQuote
  • Originally Posted by shaitaan
    I have bought in 2002 Rs 18 lac... and sold 2012 ... 62 Lac... all payment did through from my salaried account, i thought you just need to invest in real estate, the whole money,, but here the situation is diff. You need to open separate account as advised by fatichar sir...

    how much tax now i need to pay? the diff. is 62-18 = 44 lac.


    Here are the correct calculations and rules:
    Cost after indexation : 18 * 852/426 = 36 lac.
    You can add some brokerage and other modification charges to house , if any to 18lac. Assuming to be zero here.
    Then you can add the selling brokerage charge to 36l. Lets assume zero again.

    So now you need to invest only 62 - 36 = 26L in property or pay 20% tax , which is approx 5L.

    You CAN put this 26L in UC property too.
    But the house should get ready within 2 years else benifit is lost.
    If you buy plot, you HAVE to build a house in 3years.
    If you have bought a house one year before, that too can be counted towrds this excemption.

    If by march 2013 you have not done anything with the profit but plan to buy later, you need to put the 26L in a seperate bank account specially created for LTCG. Its not a normal savings
    account. Check with your bank. If you dont transfer the money there, you will have to pay the 20% tax on 26l. Else make sure to buy and get your house ready in next 2 years.

    If you buy two houses with the profit, you can claim the tax benefit in case on one purchase only.

    Example, you have 1cr LTCG. You buy 2houses of 75 L each. In this case you get excemption on 75L only. 25L will be taxed at 20%.

    I hope this helps.
    Cheers,
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  • thanks sequence for further clarity.
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  • Guys

    I got confused a bit..
    LTCG tax is 20% or 30%??
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  • Originally Posted by cookie
    Guys

    I got confused a bit..
    LTCG tax is 20% or 30%??

    either "10%", or "20% after indexation". Tax payer can choose any of the two.
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  • Originally Posted by cookie
    Guys

    I got confused a bit..
    LTCG tax is 20% or 30%??


    20% LTCG.
    For short term CG, its the same rate as normal salary. That is add the CG to your salary and calculate the normal salary tax.

    Cheers,
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  • Originally Posted by sequence
    20% LTCG.
    For short term CG, its the same rate as normal salary. That is add the CG to your salary and calculate the normal salary tax.

    Cheers,

    Thanks for clarification Sequence Bro..
    so if someone earns 5 lacs annually from property, they don't need to file anything.. :D
    right?
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