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The Cost Inflation index for the Financial Year 2012-13 has been announced by Central Board of Direct Tax (CBDT) at 852 . Cost Inflation index is used to calculate Long term capital gain on sale of Capital assets. Cost inflation index is required when you compute capital gains on any long term capital asset .Application of indexation...
Income Tax Act provides for claim of exemption from tax on long term capital gains on sale of capital asset under various provision.For example section 54 or section 54F provides exemption in case investment of net sales proceeds are made in another residential house, while section 54EC provides exemption upto R 50 lakhs if the...
So many times tax payers have asked whether the booking date is at all material for determining the capital gains or possession date or registration date is crucial. taxworry.com has posted numerous article on this topic . For example , Flat Allotment Date is Crucial for the Capital Gains and second article was Can Date...
Exemption u/s 54 from long term gains on sale of any kind of asset is allowed under section 54 or 54F if the sale proceeds are used for investment in new residential house. There are certain other conditions which are also required to be fulfilled.However, one conditions which is totally missing in either section 54...
Non Resident investor enjoy ! The Finance Act 2012 has brought a great tax relief for all non resident investors who have private limited company or closely held public company shares or have invested in debentures or bonds . This is because any sale of unlisted shares,bonds or debentures or marketable securities, after 01/04/2012 will...
The tax deduction u/s 80DDB of the Income Tax Act provides relief to tax payers who are individual … [Read More...]
A video reports on tax planning by US based corporate to shift their office elsewhere in other … [Read More...]
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