Short Term Capital Gain

Practical Intricacies under Capital Gain Account Scheme

Income Tax - If a taxpayer earns any profit on sale of assets then such gain is taxable at special rates prescribed under income tax act 1961. The Income Tax Act, however provides options to save taxes on these capital gain by making investments under specified sections of income tax act. In order to save taxes on profits […]...

Read More

Everything about Taxation on Sale of Securities with Examples

Income Tax - Taxation on Sale of Shares or any other Securities Securities includes Listed Equity Shares, equity oriented units or units of business trust. Taxation of Securities are depends on the following- 1. Period of Holding of Security  12 Months or less- Tax as per Section 111A More than 12 Months- Tax as per Section 112 2. […]...

Read More

Determination of Period of Holding of Capital Asset – Short Term or Long Term

Income Tax - Period of holding is critical and initial step to determine tax liability on Capital Gain on shares, securities, immovable property, bonds or any other capital asset as the rate of tax, implication of carry forward and set off, and benefit of indexation depends upon the nature of asset. i.e. whether capital asset is Short Term […]...

Read More

Residential property and Tax on capital gain

Income Tax - When investors make profits on sale of assets like land, shares and mutual fund units, it is termed as capital gains. The investor has to pay tax on the resulting gains that is commonly referred to as capital gains tax. The amount of money outflow from your pocket depends on how long you held the property. If a residential property is hel...

Read More

Taxation of Capital Gains on Sale of Equity Shares- FAQs

Income Tax - Taxation of Capital Gains on Sale of Equity Shares [SECTION 112A] TAX ON LONG TERM CAPITAL GAINS ON CERTAIN ASSETS  Q.1 What type of assets are covered? Ans:  an equity share in a company or a unit of an equity oriented fund or Q.2 What is the rate of tax under this section? Ans: A […]...

Read More

DTC: Jewellery, works of art, property to qualify as long-term investments even if held for a year

Income Tax - The Supreme Court will hear on September 10 the impleadment petition filed by the Forex Derivatives Consumers Forum along with the Special Leave Petition filed by Fixed Income Money Market and Derivatives Association of India (FIMMDA). Forex Derivatives Consumers Forum is a registered association of exporters from across the country, a ma...

Read More

Shares Income: LTCG remains exempt and Short Term Capital Gain taxable at half the rate under DTC

Income Tax - DTC Billproposes to tax short-term capital gains arising from stocks and mutual funds at half the marginal rate.So, if your marginal tax rate is 30 per cent, you will pay a short-term capital gains tax at 15 per cent. As far as long-term capital gains tax goes, it has been kept out of the tax net, subject to the payment of securities tran...

Read More

Taxman gears up to move apex court on its tax claims of around Rs 2,000 crore

Income Tax - The Income Tax department is all set to move the Supreme Court for a final judgement on its tax claims of around Rs 2,000 crore (Rs 20 billion) in cases involving dividend stripping prior to 2002-03. The taxman had lost the case in the Bombay high court last year. Though the government in 2005 put […]...

Read More

Half-Yearly Audit Rule Puts Small Broking Companies in a Spot

Income Tax - The decision to make half-yearly internal audits obligatory for stock broking houses spells doom for smaller firms that are already burdened with low-trading turnover, dipping revenues and increased policy levies. According to a section of brokers, half-yearly internal audits will not only be difficult to implement, but also make a dent i...

Read More

Allowability of short-term capital loss on depreciable asset on demolition of building

DCIT Vs Ackruti Safeguard Systems Pvt. Ltd. (ITAT Delhi) - Where the assessee company demolished the existing structure of building which was situated on the leasehold land, for constructing a new factory, and since there was no other asset in the block of assets, therefore, written down value of the said building claimed as short-term capital loss, was rig...

Read More

Unlisted shares sold before 11.07.2014 eligible for benefit of short holding period

Mrs. Neelu Analjit Singh Vs The Addl. Commissioner of Income tax (ITAT Delhi) - The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short Term Capital Gains?...

Read More

Nature of capital gains on transfer of buildings /right in lease hold land

Hirsh Bracelet India Pvt. Ltd. Vs ACIT (ITAT Bangalore) - Hirsh Bracelet India Pvt. Ltd. Vs ACIT (ITAT Bangalore) Section 50 of the Act is a special provision for computation of capital gains in case of depreciable assets and is applicable only to capital assets forming part of Block of Assets on which depreciation has been allowed under the Act. and also ...

Read More

Tax on Giving up of rights on flats in favour of developer within 36 months of date of JDA

Sri Suresh C. Vs DCIT (ITAT Bangalore) - Consideration of 14 flats for giving up related rights in favour of developer was received by assessee within a period of three years from the date of JDA. In such circumstances, concerned flats assumed the character of ‘short-term’ capital asset and gain on such transfer was rightly assessed by...

Read More

Gain on Sale of right to obtain flat- LTCG or STCG?

ITO (International Taxation) Vs Monish Kaan Tahilramani (ITAT Mumbai) - ITO (International Taxation) Vs Monish Kaan Tahilramani (ITAT Mumbai) The only surviving question that arise for consideration is manner of computation of the gains. It is noted that the assessee has paid upfront payment to the extent of 5% upon allotment and the balance payment has been spread over...

Read More

No capital Gain on Rollover/Extension of Fixed Maturity Plans (FMPs) in same scheme

Circular No. 6/2015-Income Tax - (09/04/2015) - CIRCULAR NO. 6/2015, Dated: April 9, 2015 no capital gains will arise at the time of exercise of the option in the case of Fixed Maturity Plans (FMPs) by the investor to continue in the same scheme. The capital gains will, however, arise at the time of redemption of the units or opting of the scheme...

Read More

Short Term Capital Gain’s Popular Posts

Recent Posts in "Short Term Capital Gain"

Practical Intricacies under Capital Gain Account Scheme

If a taxpayer earns any profit on sale of assets then such gain is taxable at special rates prescribed under income tax act 1961. The Income Tax Act, however provides options to save taxes on these capital gain by making investments under specified sections of income tax act. In order to save taxes on profits […]...

Read More
Posted Under: Income Tax |

Allowability of short-term capital loss on depreciable asset on demolition of building

DCIT Vs Ackruti Safeguard Systems Pvt. Ltd. (ITAT Delhi)

Where the assessee company demolished the existing structure of building which was situated on the leasehold land, for constructing a new factory, and since there was no other asset in the block of assets, therefore, written down value of the said building claimed as short-term capital loss, was rightly allowed by Commissioner (Appeals)....

Read More

Everything about Taxation on Sale of Securities with Examples

Taxation on Sale of Shares or any other Securities Securities includes Listed Equity Shares, equity oriented units or units of business trust. Taxation of Securities are depends on the following- 1. Period of Holding of Security  12 Months or less- Tax as per Section 111A More than 12 Months- Tax as per Section 112 2. […]...

Read More
Posted Under: Income Tax |

Determination of Period of Holding of Capital Asset – Short Term or Long Term

Period of holding is critical and initial step to determine tax liability on Capital Gain on shares, securities, immovable property, bonds or any other capital asset as the rate of tax, implication of carry forward and set off, and benefit of indexation depends upon the nature of asset. i.e. whether capital asset is Short Term […]...

Read More
Posted Under: Income Tax |

Residential property and Tax on capital gain

When investors make profits on sale of assets like land, shares and mutual fund units, it is termed as capital gains. The investor has to pay tax on the resulting gains that is commonly referred to as capital gains tax. The amount of money outflow from your pocket depends on how long you held the property. If a residential property is hel...

Read More
Posted Under: Income Tax |

Taxation of Capital Gains on Sale of Equity Shares- FAQs

Taxation of Capital Gains on Sale of Equity Shares [SECTION 112A] TAX ON LONG TERM CAPITAL GAINS ON CERTAIN ASSETS  Q.1 What type of assets are covered? Ans:  an equity share in a company or a unit of an equity oriented fund or Q.2 What is the rate of tax under this section? Ans: A […]...

Read More
Posted Under: Income Tax |

Capital gains under Income Tax Act 1961

Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is long term capital gain....

Read More
Posted Under: Income Tax | ,

Set off or carry Forward & Set off of Losses (Chapter VI – Section 70-80 of Income Tax Act, 1961)

Introduction: ♦ As per Section 2 of the Income Tax Act, 1961 definition of Income includes losses also. ♦ Losses in the Income Tax Act, 1961 are dealt in accordance with Chapter VI of the Act which consist of Section 70 to Section 80. ♦ Assessee paid tax on Total Income. It might be possible […]...

Read More
Posted Under: Income Tax |

Taxation of gold and gold products

Profit on sale of your gold is taxable as Capital Gains unless you are a dealer in gold and jewellery in which case it becomes taxable as Business Income...

Read More
Posted Under: Income Tax |

Income Tax on sale of property

Govt. has imposed many restrictions on sale of property and has also allowed deductions and exemptions that can be claimed when someone sells his property. Some of the Considerations to be kept in mind while selling property are explained in this article....

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (5,220)
Company Law (6,936)
Custom Duty (8,314)
DGFT (4,461)
Excise Duty (4,442)
Fema / RBI (4,561)
Finance (4,797)
Income Tax (36,025)
SEBI (3,839)
Service Tax (3,675)

Search Posts by Date

March 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031