Income Tax : Section 50AA taxes specified debt mutual fund units acquired on or after 1 April 2023 at slab rates, regardless of holding period,...
Income Tax : Section 50AA overrides the normal holding period rules and deems gains from specified assets as short-term capital gains, even if ...
Income Tax : This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, an...
Income Tax : Learn how the Finance Act 2023 changed debt mutual fund taxation by removing indexation benefits. Understand Section 50AA's "deem...
Income Tax : Understand how Section 50AA impacts capital gains on debentures. Explore judicial rulings and the new Income Tax Bill 2025's poten...
Income Tax : Learn about the amendment to the definition of Specified Mutual Fund under section 50AA of the Finance Act, 2023, impacting funds ...
Tax implications of investing in specified mutual funds and market-linked debentures (MLDs) post-amendment under Section 50AA, with examples.
Finance Act 2023 redefines capital gains Introduces amendments in Sec 54, 54F, and 45(5A), caps exemptions, and modifies MLD taxation. Embracing clarity and fairness in capital gain taxation.
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.
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.
Newly section insert by finance Act 2023, 1) Insertion of new section 50AA: Special provision for computation of capital gains in case of Market Linked Debenture., 2) Insertion of new section 194BA: TDS on Winnings from online games , 3) Insertion of new section 80CCH: Deduction in respect of contribution to Agnipath Scheme As per […]
