Basic salary

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2014 What should be the Minimum Basic Salary while drafting a CTC ?

Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2014 ABC is an individual . He was allotted a factory land 14 years ago by RIICO . He was using the land for running a factory for manufacturing brass items for exports as a sole proprietor. HE STOPPED HIS BUSINESS 7 YEARS AGO and surrendered sales tax /pf registrations and ceased to file income tax returns. HE IS SELLING THE FACTORY LAND AND EARNING GAINS FROM ITS SALE. PLEASE ADVISE ON :

1.CAN HE CLAIM EXEMPTION FROM CAPITAL GAINS BY PURCHASING ANOTHER FACTORY LAND FOR SETTING UP ANOTHER BUSINESS?
2.HOW CAN HE MINIMISE CAPITAL GAINS TAX?