Capital Gain - Page 19

Is There Any Way-out To Escape LTCG Tax Which Is Applicable From 1st April, 2018?

Budget 2018 gave sudden shock to the big players in stock market. From April 1, 2018, long term capital gain arising from the sale of shares or equity mutual fund schemes held for over one year and above Rs. 1 Lakh will be taxable @ 10%. Let’s understand in a comparative manner. Scenario pre Budget […]...

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Posted Under: Income Tax |

Bias against assesses or manufacture – LTCG in budget 2018 & the premature FAQ

One important bone of contention is the long term capital gains tax on the equities and equity based mutual funds. What was in the budget speech and what was in the amendment are completely two different matters....

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Posted Under: Income Tax |

Benefit of concessional tax rate on depreciable Assets cannot be denied if held for more than 3 Years

Dy. CIT Vs Eveready Industries India Ltd. (ITAT Kolkata)

This is an appeal filed by the revenue against the order of learned Commissioner (A)-9, Kolkata dated 24-11-2015 for assessment year 2006-07....

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Section 112A LTCG ON Equity Share Or Units Of Equity Oriented Mutual Fund Or Units Of Business Trust FROM 01.04.2018

Hello friends as we all know that the finance bill 2018 has introduced a new section 112A for the taxability of long term capital gain arising on the transfer of equity share or units of equity oriented mutual fund or units of business trust....

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Posted Under: Income Tax |

Budget 2018: Double Clampdown, Is It Fair?

In the Budget 2018, the Finance Minister has Re-Introduced taxability of Long Term Capital Gain on equities shares and equity oriented mutual fund (herein after referred as LTCGE) @ 10%. This proposal has raised many questions, some people are even calling this move as double taxation. Government named its move as rationalization of LTCGE...

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Posted Under: Income Tax |

LTCG as per Finance Bill 2018

Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act....

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Posted Under: Income Tax |

Taxability of Long Term Capital Gain on Listed Equity Shares, Units of Mutual Fund (Proposed Provision of Union Budget 2018 )

As per the present provision of Section 10(38) of Income Tax Act, the Long Term Capital Gains arising on transfer of Equity Shares or Units of Equity Oriented Funds or units of business trusts are exempt....

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Posted Under: Income Tax |

Views on reintroduced tax on long-term capital gains and issues arising therefrom

Many months before the presentation of the Union Budget 2018 on 1 February 2018, newspaper reports had predicted the possibility of re-introduction of tax on long-term capital gains arising from transfer of listed equity shares / units of equity oriented mutual funds / units of business trust (specified assets)....

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Posted Under: Income Tax |

Taxing conversion of stock into capital asset: A re-look needed?

Capital assets and inventory are treated differently for the purpose of taxation and are governed by distinct provisions. As a result, classification of assets has often been a subject matter of challenge by the tax authorities. So also, a change in this classification by the taxpayer....

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Posted Under: Income Tax |

Gains made on sale of shares now taxable

As per the proposed amendment and insertion of new section 112A of the Income-tax Act, 1961, long-term capital gains made on sale of equity shares or equity-oriented unit to be taxable at the rate of 10% with effect from 1 April 2018....

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Posted Under: Income Tax |

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