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
    either "10%", or "20% after indexation". Tax payer can choose any of the two.


    Who told you about this 10% ? I do not think there is such a formulae for calculating tax on LTCG.

    Its 20% flat as of last few yrs.

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


    IT return filing is a different subject :). No idea.
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  • Flat 20% is not correct. It is after indexation. You yourself applied indexation in your post on last page https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/10709-helios-by-sunshine-developers-in-sector-78-noida/page225?t=13044&page=225

    About 10%, I checked again. It was for shares, not real estate.
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  • Originally Posted by cookie
    Thanks for clarification Sequence Bro..
    so if someone earns 5 lacs annually from property, they don't need to file anything.. :D
    right?

    I think the zero tax slab is up to 2 lakh only. So the remaining 3L would be taxed. (assuming he has no other income)
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  • Originally Posted by fatichar
    I think the zero tax slab is up to 2 lakh only. So the remaining 3L would be taxed. (assuming he has no other income)

    no its 5 lac Praveen Bro... Please check again I hope I am not missing anything.
    if someone's annual income is up to 5 lac only.. He doesn't need to file even income tax return. It has been applicable from this year only..
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  • Originally Posted by fatichar
    Flat 20% is not correct. It is after indexation. You yourself applied indexation in your post on last page https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/10709-helios-by-sunshine-developers-in-sector-78-noida/page225?t=13044&page=225

    About 10%, I checked again. It was for shares, not real estate.


    Fatichar bro, tax is flat 20% on RE LTCG. Thats what i meant.
    Not 10%.

    Indexation is already taken into consideration while calculating LTCG.

    Also cookie is talking about IT return filing exemption upto 5 L income. He is not talking about tax exemption upto 5L.

    Cheers,
    CommentQuote
  • Originally Posted by sequence
    Fatichar bro, tax is flat 20% on RE LTCG. Thats what i meant.
    Not 10%.

    Indexation is already taken into consideration while calculating LTCG.

    Also cookie is talking about IT return filing exemption upto 5 L income. He is not talking about tax exemption upto 5L.

    Cheers,

    I think cookie thinks that not filing is equal to not paying tax. That's why a :D in his post!

    Cookie, if there is no other income apart from LTCG on property, then:

    2 lakh would be exempt.

    taxable income = 5L - 2L = 3L. (assuming that 5L gain is after indexation)

    Tax = 20% of 3L = 60k. You have to pay this.

    and you HAVE to file income tax return in this case. Only those who satisfy all the following conditions are exempted from filing ITR. (but still have to pay tax, thru TDS)

    * income from salary and interest only. the taxable income (after deductions) should not exeed 5L.
    * income from 1 company only
    * have declared the interest income to the employer and employer has deducted TDS on it.
    * PAN no, Form 16 etc formalities must be in place.
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  • Awesome Sunshine Facade

    could not able to resist myself by posting pic which is posted in different thread by someone else, Its looking great..Good Job Sunshine Guys.
    Attachments:
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  • fatichar bhai, i confirmed from 2-3 peoples, they said it not mendatory to open new separate account for doing transactions. They said, Even if you have done from the salaried account, it is fine, I just need to mention the transactions details done. while filing IT.

    I don't know what is correct ? confusia gaye hai ...hum
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  • Originally Posted by Akash1
    could not able to resist myself by posting pic which is posted in different thread by someone else, Its looking great..Good Job Sunshine Guys.


    It is beautifull, i was standing outside this building yesterday and could speak only one word ....

    WOW.
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  • Originally Posted by shaitaan
    fatichar bhai, i confirmed from 2-3 peoples, they said it not mendatory to open new separate account for doing transactions. They said, Even if you have done from the salaried account, it is fine, I just need to mention the transactions details done. while filing IT.

    I don't know what is correct ? confusia gaye hai ...hum

    Agar aisa hai to sahi hai! I wrote only on the basis of the document I attached. I think may be that account is needed only if you are going to carry the capital gain to next financial year.
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  • Originally Posted by Akash1
    could not able to resist myself by posting pic which is posted in different thread by someone else, Its looking great..Good Job Sunshine Guys.


    how many floor per tower??
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  • Hi, did you happen to read the article on the website of taxguru dot in ( just type the following phrase in google and search "Sale of Under Construction Property – Taxability, Nature of Gain, Date of Indexation, Benefit U/s. 54 or 54EC" ).

    IT says here that even if it under construction it is considered LTCG if sold after 3 years from date of allotment letter.

    Any views. The CA / Tax experts on this forum.

    cheers
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  • Originally Posted by teen_patti
    how many floor per tower??

    20 + 2 PentHouse
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  • Yes, I also believe that UC property if sold after 3 years would be taxed as LTCG. But probably it should remain UC till then!
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