"15 March 2020" Archive - Page 3

Exit tax where charitable institution converts into non-charitable

In order to ensure that the intended purpose of exemption availed by trust or institution is achieved, a specific provision in the Act is required for imposing a levy in the nature of an exit tax which is attracted when the organization is converted into a non-charitable organization or gets merged with a non-charitable organization or do...

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Posted Under: Income Tax |

Section 54EE Tax Exemption on long term capital gain

Invest in the long term specified asset and get long term capital gain exempt under section 54EE of the Income Tax Act In case there is a long term capital gain, and the assessee invests the amount into a long term specified asset, then, such assessee would be eligible to avail exemption under section 54EE […]...

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Posted Under: Income Tax |

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