Capital Gains

ITR

Section 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax

At the time of sale of any Long Term Capital Asset, the Gains are usually very large and are taxed @ 20%. The Resultant Figure to be paid as Tax… Read More

Cost Inflation Index for 2013, 2014 and last 30 years

Cost Inflation Index (CII) is an Index which finds its utility in the income tax act at the time of computation of Long Term Capital Gains to be disclosed in… Read More

TDS on Property Sale @ 1% under Section 194IA

The Indian Finance Minister P. Chidambaram while announcing the Budget 2013-14 introduced TDS on Property @ 1% on all Immovable Property Transactions over Rs. 50 Lakhs under Section 194IA. Reason for… Read More

Computation of Capital Gains Tax on Sale of Shares & Mutual Funds

Capital Gains Tax on sale of shares/mutual funds is levied based on the nature of the Capital Gain. There are 2 types of capital gains i.e. Short Term and Long… Read More

Capital Gains Tax on sale of Bonus Shares & Right Shares

At the time of sale of shares, Capital Gains Tax is levied depending on the nature of the capital gains. If the Capital Gains are Long Term in Nature, such… Read More

Capital Gains Account Scheme: Features & Tax Benefits

The profit that arises on the sale of any property is referred to as Capital Gains and is chargeable to tax.  (Refer: Computation of Tax on Capital Gains) Govt also… Read More

Tax on Property Transaction below Circle Rate: Section 50C, Sec 56

This article highlights the income tax treatment on purchase/sale of a property below the Stamp Duty Value under Section 50C & Section 56(2)(vii). Before the explaining the treatment, lets first… Read More

Capital Loss: Treatment for Income Tax purposes

At the time of sale of any Asset, if a Short Term/ Long Term Capital Loss arises to a taxpayer; this loss is allowed to be set-off in the same… Read More

Computation of Short Term & Long Term Capital Gain Tax in India

At the time of Sale of any Asset, Tax is liable to be paid on the Gains earned on the sale of Asset. Such Gains could either be Short Term… Read More