About this plan
This plan is specially created for individuals who have sold a residential/commercial property or land, and need to file ITR-2 due to capital gains income, along with other income sources such as salary, interest, house property, and agricultural income (above ₹5,000).
It includes complete capital gain computation, eligibility assessment for exemptions under Sections 54, 54EC, 54F, and correct filing of ITR-2 to ensure compliance with Indian tax laws and avoid scrutiny or penalties.
Services Included
- Full capital gains computation on sale of property: Short-term or long-term classification
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Assistance in claiming exemptions:
Section 54 – purchase/construction of new house
Section 54EC – investment in capital gain bonds
Section 54F – sale of long-term capital assets -
Reporting of:
Salary income (with single or multiple Form 16s)
House property income (self-occupied or rented)
Other sources (interest, dividend, etc.)
Agricultural income exceeding ₹5,000 - TDS reconciliation (Form 26AS, Form 16B from buyer)
- Calculation as per both the Tax Regime and selection of one which is best for you
- Support with e-verification and refund tracking on tds deducted on property sale.
- Expert Assisted Tax Filing. | Call 011-45626514
Who Should Buy
How It's Done
This plan is equipped with end-to-end online fulfillment via our expert. No hassle, 100% Digital.
3 Days Estimate
- Upload Documents on Vault
- Review computation sheet
- Get ITR-V after e-filing
Documents Required
Property improvement cost receipts (if any)
FAQs
What is Capital Gain for income tax purposes?
Capital gain refers to the profit earned from the sale or transfer of a capital asset such as property, shares, mutual funds, gold, etc. It is classified as:
- Short-Term Capital Gain (STCG)
- Long-Term Capital Gain (LTCG)
Based on the holding period of the asset.
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What is considered immovable property?
Immovable property includes land, buildings, and any property that cannot be moved without altering its substance.
When does capital gain arise on immovable property?
Capital gain arises when you sell an immovable property at a price higher than its purchase price.
What is indexation in capital gains?
Indexation is the process of adjusting the purchase price of the property based on inflation to calculate the LTCG.
What expenses can be deducted when calculating capital gains?
Expenses such as brokerage, stamp duty, registration charges, and improvement costs can be deducted from the sale price.
Is capital gains tax applicable on inherited property?
Yes, but only when the inherited property is sold. The cost to the previous owner is considered for capital gains calculation.
What documents are needed to calculate capital gains?
Sale deed, purchase deed, proof of expenses incurred, and indexation charts are commonly required.
Can I claim exemption on capital gains?
Yes, under specific sections:
- Section 54 – Sale of residential property, reinvested in another residential house
- Section 54EC – Investment in NHAI/REC bonds within 6 months
- Section 54F – Sale of long-term asset other than house, reinvested in a house property
What is Section 54 exemption?
Section 54 provides exemption on LTCG if the gain is invested in another residential property within a prescribed time.
What is Section 54EC exemption?
Section 54EC allows exemption if LTCG is invested in specified bonds like NHAI or REC within 6 months of sale
Is TDS applicable on sale of immovable property?
Yes, TDS at 1% is applicable if the sale consideration exceeds ₹50 lakhs.
Can losses from property sale be adjusted?
Yes, short-term capital loss can be adjusted against any capital gains. Long-term losses can be adjusted only against LTCG.
How is the date of acquisition determined for inherited property?
The date of acquisition is considered to be the date when the original owner acquired the property.
Are capital gains applicable in case of gift of property?
No capital gain arises at the time of gift, but capital gains will apply when the recipient sells the property.
What is the fair market value (FMV) and how is it used?
FMV is the estimated price the property would fetch in the open market. It is used in certain cases like inheritance or gifts.
What is the impact of joint ownership on capital gains?
Each co-owner is liable to pay capital gains tax on their share of the profit from the sale of the jointly owned property.
How can I report capital gains in my ITR?
Capital gains must be reported in Schedule CG of the Income Tax Return (ITR) form applicable to the taxpayer.