Have you sold or thinking to sale the house or shares or any jewellery gifted by your father or any family relative . Maybe you are selling an inherited land…
capital gains
11 Articles
11
Capital gains are chargeable to tax under section 45 of the Income Tax Act when a capital asset is transferred . The word “Capital Asset ” and the word “transfer” are defined under section 2 of the Income Tax Act
Section 45(2) of the Income Tax Act cover a case of conversion of investments to stock-in-trade. But , there is no provision to cover a case of reverse conversion i.e…
Are you thinking that there is some error in the headline ? or Maybe thinking that the title of the article should have been “India withdraws Capital gains benefit from Mauritius based…
In keeping woth the promise of the government which set up the Tax Simplifcation Comittee to clean the mess of the disputes between the Income Tax Department and the tax…
Section 54 of the Income Tax Act provides that if the long term capital gains on sale /transfer of a house property is used for buying or contsructing a house within…
Long term capital gains on sale of property is exempted from tax to the extent it is utilized to purchase another residential house within one year before or two years…