CA Akash Jadhav

🏠 PROPERTY SALE & CAPITAL GAINS TAX – KNOW THE RULES! : By CA Akash Jadhav

Selling property without understanding capital gains tax
can lead to unnecessary tax outflow & notices ⚠️

📌 What is Capital Gain?
Capital gain is the profit arising from sale of property such as house, flat, plot or commercial property.

📊 Types of Capital Gains:

🔹 Short-Term Capital Gain (STCG)
✔ Holding period up to 24 months
✔ Taxed as per your income-tax slab

🔹 Long-Term Capital Gain (LTCG)
✔ Holding period more than 24 months
✔ Tax @ 20% + cess
✔ Indexation benefit available

📉 Indexation Benefit
Helps adjust purchase cost for inflation and reduces taxable gains

📌 Legal Ways to Save Capital Gains Tax:
✔ Section 54 – Reinvestment in residential house
✔ Section 54F – Invest in one residential house
✔ Section 54EC – Investment in specified bonds

🏦 Capital Gains Account Scheme (CGAS)
If exemption amount is not used before ITR filing,
👉 Deposit in CGAS & invest later

💳 TDS on Property Sale:
✔ Resident seller – 1% TDS if value exceeds ₹50 lakh
✔ NRI seller – TDS on capital gains at higher rates

⚠️ Common Mistakes to Avoid:
❌ Missing exemptions
❌ Ignoring indexation
❌ Wrong holding period
❌ No CGAS deposit
❌ TDS non-compliance

⚠️ Professional Disclaimer:
This post is for educational & awareness purposes only. Tax treatment depends on facts of each case.
Please consult your Chartered Accountant before taking decisions.

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HIGH VALUE TRANSACTIONS TRACKED BY INCOME TAX DEPARTMENT 🚨
By CA Akash Jadhav

Think the Income Tax Department doesn’t notice big transactions?
💡 Think again! Many high-value transactions are automatically reported.

📌 Transactions under Income Tax Radar:

🔹 Cash Deposits in Bank
💰 Large cash deposits in savings or current accounts

🔹 Credit Card Payments
💳 Annual credit card bill payments above specified limits

🔹 Purchase of Property
🏠 Buying or selling immovable property above threshold values

🔹 Purchase of Shares / Mutual Funds / Bonds
📈 High-value investments reported by institutions

🔹 Fixed Deposits
🏦 Large FD investments in a financial year

🔹 Cash Sales / Receipts
💸 Heavy cash transactions by businesses & professionals

🔹 Foreign Travel & Forex Transactions
✈️ High spending on foreign travel or foreign currency

📢 Important to Know:
✔ Banks, registrars, mutual funds & financial institutions report these transactions
✔ Data is matched with your Income Tax Return (AIS / Form 26AS)
✔ Mismatch can trigger notice or scrutiny

📊 Smart Tax Tip:
💡 Always report income correctly
📄 Keep proper documentation
🧠 Don’t ignore tax compliance

⚠️ Disclaimer:
This post is for educational & awareness purposes only. Tax treatment depends on facts of each case.
Please consult your Chartered Accountant before taking decisions.

⸻

📍 Follow CA AKASH JADHAV
for tax awareness,
simple explanations & compliance tips.

CASH TRANSACTIONS & INCOME TAX – KNOW THE LIMITS! 💸
By CA Akash Jadhav

Cash is convenient…
but excess cash transactions can invite penalties & notices 🚨

📌 Important Income Tax Rules on Cash Transactions:

🔹 Section 40A(3)
Cash payment above ₹10,000 to a single person in a day?
👉 Expense not allowed as deduction.

🔹 Section 269ST
You cannot receive cash above ₹2,00,000:
✔ In a single day
✔ From one person
✔ For one transaction/event
👉 Penalty = 100% of amount received 😳

🔹 Section 269SS
Loan / deposit / advance above ₹20,000?
❌ Cash not allowed
✔ Only banking modes permitted

🔹 Section 269T
Repayment of loan/deposit above ₹20,000 in cash?
❌ Strictly prohibited

🔹 Cash Sales – Businesses
Even if allowed under GST,
👉 Income Tax limits still apply

📢 Golden Rule:
💡 Just because cash is available doesn’t mean it is legal.

📊 Use banking channels
📄 Maintain records
🧠 Avoid unnecessary tax trouble

⚠️ Professional Disclaimer: This post is for educational & awareness purposes only. Tax implications depend on facts of each case. Please consult your Chartered Accountant before taking decisions.

📍 Follow CA AKASH JADHAV
for real-life tax awareness,
simple explanations & compliance tips.

📘 HUF – A TAX PLANNING CONCEPT (India)

Many taxpayers hear about HUF (Hindu Undivided Family) but are unsure how it works under the Income-tax Act.

🔹 HUF is a separate taxable entity
🔹 It has a separate PAN and assessment
🔹 Income of HUF is taxed independently
🔹 Basic exemption limit applies as per law

HUF is recognised under the Income-tax Act, 1961 and is commonly discussed in the context of family-based tax planning, subject to conditions and legal compliance.

📌 Important to note
✔ Applicability depends on individual facts
✔ Not all incomes can be routed through HUF
✔ Proper documentation and compliance are essential

Understanding tax provisions is always better than acting on assumptions.

CA Akash Jadhav
Financial Awareness Initiative
Tax | Wealth | Compliance

⚠️ For educational purposes only.
This is not professional advice.
Tax implications vary based on individual circumstances.