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Capital Gain

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Understanding the Capital Gain Account Scheme

Income Tax : Understand the Capital Gain Account Scheme (CGAS) introduced by the Indian Government to defer tax liability on capital gains unti...

March 23, 2024 1707 Views 0 comment Print

Comprehensive Guide to Sale of Inherited Property by Non-Resident Indians

Income Tax : Learn essential steps and tax provisions for Non-Resident Indians (NRIs) selling inherited property. Understand laws, remittance l...

March 18, 2024 651 Views 0 comment Print

No Income Tax on Compulsory Acquisition of Rural Land

Income Tax : Explore how land acquisition for development projects like road widening impacts taxation for rural landowners under the Income Ta...

February 29, 2024 999 Views 1 comment Print

Taxation In Case of Stock Market Transactions

Income Tax : Unlock the intricacies of income tax implications for stock market transactions in India, covering capital gains, F&O trading, and...

February 20, 2024 3006 Views 2 comments Print

Leveraging DTAA to Minimize Capital Gain Taxes for NRIs

Income Tax : Learn how Non-Resident Indians (NRIs) in Germany, Singapore, UAE, Netherlands, and more can reduce capital gain taxes in India usi...

February 19, 2024 1887 Views 1 comment Print


Latest News


Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...

August 13, 2021 1407 Views 0 comment Print

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...

August 11, 2021 1335 Views 0 comment Print

4 Major Tax Exemptions to Startups

Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...

December 11, 2019 5814 Views 0 comment Print

Draft Notification on Tax on Long Term Capital Gain on Shares

Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...

April 24, 2018 12738 Views 0 comment Print

Amend Sec. 47(viab) related to indirect transfer of capital asset situated in India

Income Tax : The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment prov...

December 28, 2017 4788 Views 0 comment Print


Latest Notifications


CBDT Notification on Computation of capital gains, not exempt under Section 10(10D)

Income Tax : CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) o...

January 18, 2022 7578 Views 0 comment Print

Taxation Laws (Amendment) Act, 2021

Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...

August 14, 2021 3621 Views 0 comment Print

Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, ...

August 5, 2021 7920 Views 0 comment Print

Rule 8AC Computation of short term capital gains & written down

Income Tax : CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where deprec...

July 7, 2021 7335 Views 0 comment Print

Cost Inflation Index for Financial Year 2020-21- CBDT Notifies

Income Tax : CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide  Notification No. 32/202...

June 12, 2020 31401 Views 0 comment Print


Capital gain taxable in the hands of legal owner who transferred property by registering sale deed

February 14, 2023 1527 Views 0 comment Print

ITAT Mumbai held that capital gain is to be taxed in the hands of legal owner of the property who has transferred the property by registering sale deed. Merely because interest of housing loan is claimed by the son of the assessee, it doesn’t make him the owner of the property.

Consideration from sale of agricultural land not taxable under income tax

February 13, 2023 2142 Views 0 comment Print

ITAT Chennai held that the sale proceeds from the sale of agricultural land cannot be treated as business asset proceeds as the revenue records clearly treats the land as agricultural land and agricultural activities were duly carried out on it.

Amendments related to Capital Gain in Union Budget 2023-Simplified

February 11, 2023 17046 Views 2 comments Print

Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House  if an assessee with in period of one year or two years after the date on which transfer took place purchased any residential property or with period of three years after that date constructed any residential property in India Irrespective of any threshold limit.

LTCG on sale of equity shares of Lifeline Drugs and Pharma Ltd. is not genuine: ITAT Indore

February 10, 2023 1590 Views 0 comment Print

Rupesh Vyas Vs ACIT (ITAT Indore) Feeling aggrieved by appeal-order dated 20.09.2018 passed by learned Commissioner of Income-Tax (Appeals)-1, Indore [“Ld. CIT(A)”], which in turn arises out of assessment-order dated 15.12.2016 passed by the learned ACIT-3(1), Indore [“Ld. AO”] u/s 143(3) of the Income-tax Act, 1961 [the Act] for Assessment-Year 2014-15, the assessee has filed […]

Section 50AA – Important Changes in Capital Gain with Effect from 1st April 2023

February 7, 2023 16701 Views 0 comment Print

As per the new section 50AA, the full value of the consideration received or accruing from the transfer, redemption, or maturity of a Market Linked Debenture will be deemed to be the capital gains arising from the transfer of a short-term capital asset.

Budget – 2023 Proposals Pertaining To Capital Gain

February 6, 2023 2361 Views 0 comment Print

Fifth continues budget by Finance Minister Smt. Nirmala Sitaraman is record for current Government. Till now maximum budget, i.e. 10 times were given by Late Shri Morarji Desai, 9 times by P. Chidambaram and 8 times by Pranav Mukharaji. If the current Government will continue in 2024 election and Smt. Nirmala Sitaramn, become the Finance […]

Quantifying the unquantified Cost of acquisition – Budget 2023

February 6, 2023 2517 Views 0 comment Print

Intangibles have over the past couple of decades become an integral path for achieving accelerated business growth. A few decades ago, the valuation of a company was largely derived based on the tangible assets it owned, such as machinery, plant, raw material, etc. However, in recent times, intangibles such as software, data, intellectual property, etc. […]

Cost of acquisition/improvement shall not include interest claimed under section 24 

February 4, 2023 6942 Views 1 comment Print

Cost of acquisition or the cost of improvement shall not include the amount of interest claimed under section 24 or Chapter VIA.

Budget 2023: Cost of improvement/acquisition of intangible asset shall be Nil

February 4, 2023 7203 Views 0 comment Print

‘Cost of improvement’ or ‘cost of acquisition’ of a capital asset being any intangible asset or any other right ( other than those mentioned in the said sub-clause or clause, as the case may be) shall be ‘Nil’.

Foreign exchange fluctuation gain on redemption of shares at par is not taxable as capital gain

February 4, 2023 1407 Views 0 comment Print

It was an undisputed fact that investment made by the taxpayer in shares of its overseas subsidiary was made in Euro and redemption of such shares were also made in Euro. Thus, actual profit or loss on sale / redemption of such shares were to be computed in Euro only and thereafter, converted to INR for the purposes of Section 45 of the Income Tax Act.

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