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B-94, Vibhuti Khand, Gomti Nagar, Lucknow-226010, U.P, India

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7505111555

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Capital Gains

Individual Tax Filing for people earning income from Capital Gains or Income Tax Relief under Section 89

  • If you have attained capital gains from the sale of any property or you need to claim tax relief under Section 89 then you need the help of Haxtax.com experts to file your return with perfection.

  • Tax filing for individuals who have got salary arrears, capital gains or ESOP.

  • E-filing of form 10e is managed.

  • Tax Filing is done by an expert.

  • Email and phone support of a skilled CA during business hours.

₹ 1799

*GST is 18% *This package covers only one Tax Return
  • Package Details

  • Our Process

  • Documents Needed

  • FAQ

Package Details

What is in this package ?

  • This package is well-suited for all the individuals who have incurred a loss or gained profit from the sale of stocks or house property or mutual funds in addition to the salary income. This package is not a viable option for derivative or intra-day traders.

Who should Buy this Package?

  • Salaried employees who have got ESOP in domestic companies

  • Salaried employees or nonsalaried individuals who received capital gains from a property or stock.

  • PSU employees who received salary arrears under 6th Pay Commission or OROP.

What will you Get?

  • Complete tax filing for individuals who got any capital gains, salary arrears or ESOP.

  • E-filing of the form 10e.

  • Tax filing managed by the experts.

  • Email and phone support from a Chartered Accountant during regular business hours.

For Enquiries

or

Call : 7505111555

Our Process.

  • Purchase of plan is done by you.

  • You upload all required documents on vault.

  • The computation sheet is thoroughly reviewed.

  • You get the ITR-V after e-filing is done

  • Just 5 days Estimate

Documents You Must Submit.

  • 1.     Statement of a DEMAT account or any trading account in cases of shares.

  • 2.     Form 16 provided by your company if you are a salaried individual.

  • 3.     Form 26AS Tax Credit Statement.

  • 4.     Proof of investments that are claimed on Form 16 and any other investment proofs for investments not claimed on Form 16.

Frequently Asked Questions

  • What is the meaning of a Capital Gain?
    • Any profit or gain that comes in as a result of the sale of a capital asset is known as a capital gain. This gain is charged to tax in the year during which the capital transfer took place. Currently, inheritance of property is tax-free as there is no sale but just a transfer. But if the inheritor sells the asset, the capital gains tax is applicable. Assets received as gifts via a will or an inheritance are specifically exempted by the Income Tax Act.

  • What comes under the capital asset category?
    • Though the scope of capital assets is very wide, here are some examples:.

    • Land


      Building


      Vehicles


      House Property


      Patents


      Leasehold Rights


      Trademarks


      Jewelry


      Machinery


    • Rights in or in relation to an Indian company are also included. Rights of management or control or any other right are also covered.

  • What is not covered in Capital Gains?
    • Raw materials, stocks or consumables held for the purpose of profession or business.

    • Agricultural land located in rural India

    • Personal items like furniture, clothes, etc. held for personal use

  • What is the meaning of long and short term capital assets?
    • A capital asset that is held for less than 36 months or equal to this timeframe is known as a short-term capital asset. Any asset that is held for more than 36 months is known as a long-term capital asset.

    • For instance, a house property that is held for more than 3 years will be known as a long-term capital asset while equity funds that are held for 12 months or less are considered short-term. Debt Funds that are held for over 36 months are known as long-term assets.

    • It is vital for you to find out the specific holding period that will be applicable to your asset because it will impact the calculation of capital gains.

    • Some assets are considered as short-term capital assets when they are held for 12 months or less than that. This rule is applicable if the date of transfer is post 10th July 2014. The date of purchase doesn’t matter. When the holding period exceeds 12 months, these are termed long-term capital assets. These assets include:


      Units of UTI (quoted and non-quoted)


      Units of equity oriented mutual fund (quoted and non-quoted)


      Zero coupon bonds (quoted and non-quoted)


      Preference Shares or equity in a company that is listed on a recognized Indian stock exchange


      Securities such as bonds, debentures, government securities, etc. that are listed on a recognized Indian stock exchange

  • How will the short and long-term capital gains be taxed?
    • Each Long-term capital gain is taxable at 20 percent plus education cess and surcharge.

    • If the securities transaction tax is not applicable, the short term capital gain is added to the income tax return of a person and the person is taxed as per his or her income slab.

    • When securities transaction tax is applicable, the short-term capital gain is taxable at 15 percent rate plus education cess and surcharge.

  • What is meant by relief under section 89(1)?
    • Your tax is calculated on the basis of the total income you received or earned during a financial year. If the total income includes any kind of dues that were paid in the current year, you may feel worried about paying a higher tax because tax rates have increased over the years.

    • Section 89(1) protects you from the additional burden of tax due to a delay in getting the income. This section is a part of the income tax laws of India. Any person who gets a portion of the salary in advance, family pension in arrears or arrears is eligible for some tax relief under section 89(1).

  • What is Form 10e and when should it be filed?
    • From the financial year 2014-2015 which is also the assessment year 2015-2016, the income tax department has made it mandatory to file form 10E if a person wants to claim relief as per section 89(1). Taxpayers who make the mistake of claiming relief under 89(1) and not filing Form 10E may get a notice from the income tax office that mentions that the relief u/s 89 is not allowed in your case as you have not filed online Form 10E. The filing of online Form 10E is required as per Section 89 of the Income Tax act.

  • What is the due date for return filing for the individuals?
    • All the individuals need to file their return by 30th September of the next year. For example, if you earned some income in the year 2016-2017, your return needs to be filed by September 2017.

  • What is the meaning of income from house property and how is it taxed in India?
    • Income from House property is earned in the following cases:


      Rental income received by letting out a property


      Annual value of a property that is deemed to be let out for the purposes of income tax (when you are the owner of more than one house property)


      The annual value of a self-occupied property. It is always Nil.


      As per section 24 of the Income Tax Act, you are allowed to make some deduction from the Net Annual Value of your House Property. The Net annual value is calculated by deducting municipal taxes you paid from the gross annual value. In cases where the property is let out, the rent received by you is the Gross Annual Value. In a deemed to be let out property, a reasonable rent of a similar place is known as your gross annual value. For every self-occupied property, the gross annual value would be Nil.

  • What is the meaning of Capital Gain and how is it taxed in India?
    • When any asset is sold, the profit accumulated from such a transaction is taxed as a capital gain. This gain can be short term or long term and the taxability in each of the cases is different. Generally, the gain on sale of assets that is held for over 36 months is known as Long Term Capital Gain. It is taxed at 20 percent. In contrast, when assets are held for a lesser period then short term capital gain tax rates apply which are as per the normal tax slab rates. In the case of securities and shares, the period is just 12 months instead of 36 months.

  • Am I allowed to file a revised return to rectify a mistake that was made in an original return filed by me or a CA?
    • Yes, it is easy to revise a return and it should be done within one year from the end of the pertinent assessment year or before the completion of the assessment year. Whichever among these two is earlier is considered. Filing of revised return is not a part of our package. You need to provide full and accurate details to avoid the need of a revised return.

  • Can a return be filed after the due date has passed?
    • Yes, you can file a belated return before the assessment year ends or before the completion of the assessment year. Whichever comes earlier is the deadline. For instance, in the case of income earned during FY 2017-18, the belated return can be filed until 31st March 2019.

  • Is it necessary for a person to keep a copy of the return filed as the proof of filed taxes? If yes, it should be kept for how long?
    • Yes, you need to keep the copy of the return filed by you. It is advisable to keep it for at least 6 years but if you can, you should keep it for as long as possible. As per the Income Tax Act, the legal proceedings can be initiated up to four or six years prior to the current financial year. But in some cases, the proceedings can start even after the six-year period.

  • Is it necessary for me to attach the details of proof of investments, TDS deducted, etc.?
    • All ITR return forms are attachment less forms so, you are not required to attach any document such as TDS certificates, proof of investments, etc. along with your ITS, no matter whether you choose to file it manually or electronically. But, you should keep these documents with you in case you need to produce them before the tax authorities when they are demanded in situations like injury, assessments, etc.

  • Will you include audit and preparation of financial statements in this package?
    • No, preparation of financial statements and audit is not a part of this package.

  • Will you cover revised return into this package?
    • If the information you provided was incorrect and it leads to the need of a revised return, you will not be covered in this package. You will need to buy another package.

  • Which package should I select if I hold stock of a foreign company as ESOPs/RSU?
    • This package is perfect for you as in this package, a qualified Chartered Accountant will prepare and submit your tax return to the IT Department. The Chartered Accountant will also take the responsibility of not only filling out foreign income specific schedules but will also check all relevant compliance with regard to the Double Taxation Avoidance Agreement.