Do you have income tax-related queries?
Please ask your questions HERE and rediffGURU T S Khurana, a fellow member of The Institute of Cost Accountants of India, will answer them.
Anonymous: My organization closed down on 7th June 2021 but my Provident fund contribution by my organization for the month of June 2021 was made on 8th September 2021 so what is the date of exit to be mentioned on the provident fund web site while applying for monthly pension?
You should mention 7th June-2021, as date of exit in all documents.
Anonymous: Dear Rediff Guru, I am 67 and my wife 61. My wife recently sold a flat in Delhi. We would like to know is it advisable to buy another property in Hyderabad where we want to settle or pay LTCG tax of around 10 lakh and keep the money. We already have 1 Flat @ Hyderabad. We are in double mind as we feel the cost goes up by adding all additional charges registration charges, wood work etc., which we may not be able to realize by way of appreciation for next few years. We don't need this money for retirement purposes. What is the best way to go?
It is always advisable to invest in real estate, while saving income tax also.
If you already have a Flat in Hyderabad, purchase another & create a second income from its rentals. Besides saving income tax, you would also be earning rent on regular basis, while its value keeps on appreciating, with each passing day.
Anonymous: Can short term capital gain be adjusted against long term capital gain?
What I understand from your question is, whether Short Term Capital LOSS (NOT GAIN) be adjusted against LTCG.
Yes. Short Term Capital Loss can be adjusted against both Long/Short Term Capital Gains.
‘Can Short Term Loss Be Adjusted Against LTCG?’
N: My son bought a house in Chennai for 33 lakh in 2019. He wants to sell it in September 2025 for 50 lakh. He bought a house for 1.5 cr through bank housing loan in June 2025. Whether he has to pay capital gain tax if he repay the sale proceeds to housing loan?
Since your son has purchased a house in June 2025, i.e., within one year before the Sale of his house property (September-2025), he won't have to pay LTCG tax. This is because he has invested his LTCG in purchase of a house property, within time limit of one year.
Namratha: My bank did not deduct TDS but my interest income crossed 100,000. I am senior citizen. Do I still need to report this when filing returns?
Yes. Bank may or may not deduct TDS on your interest income due to any reason. You have to declare this earning in your ITR & pay due income tax, before filing your ITR.
- You can ask rediffGURU T S Khurana your questions HERE.
Disclaimer: This article is meant for information purposes only. This article and information do not constitute a distribution, an endorsement, an investment advice, an offer to buy or sell or the solicitation of an offer to buy or sell any securities/schemes or any other financial products/investment products mentioned in this QnA or an attempt to influence the opinion or behaviour of the investors/recipients.
Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.
© 2025