Tag: Capital Gains

post-1% TDS on Sale of Property u/s 194IA in 2021 (Detailed Guide)
1% TDS on Sale of Property u/s 194IA in 2021 (Detailed Guide)

TDS on Sale of Property is levied @ 1% on transaction of all properties where the total transaction value is more than Rs. 50 Lakhs. The manner of levy of TDS on Property has been explained in detail in this...

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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 usually comes out to be a very large amount liable...

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Computation of Short Term & Long Term Capital Gain Tax on Property

At the time of Sale of any Real Estate Property, Tax is liable to be paid on the Gains earned on the sale of the Real Estate Property. Such Gains could either be Short Term Capital Gains or Long Term...

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Tax on Property Transaction below Circle Rate: Sec 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)(x). Before the explaining the treatment, lets first understand the meaning of Stamp Duty Value. Circle Rate/ Stamp...

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Cost Inflation Index for 2016 and last 30 years: Updated

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 the Income Tax Return. The Cost Inflation Index is issued...

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Capital Gains Tax on sale of Bonus, Right & Split 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, tax on such gains would be levied @ 10% from Financial...

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10% Long Term Capital Gains Tax on Sale of Shares & MF: Budget 2018

Budget 2018 Update: 10% Long Term Capital Gains Tax on sale of Shares and Mutual Funds held for more than 1 year.  ———————————- Capital Gains Tax on sale of shares/mutual funds is levied based on the nature of the Capital...

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Tax on Sale of Agricultural Land & Section 54B Exemption

Agricultural Land is a land on which agricultural activities are carried out. This article focuses on the tax which would be levied on the capital gains arising on the sale of agricultural land in India. An agricultural land may either...

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Inheritance Tax in India & other Taxes on Ancestral Property

Inheritance Tax (also referred to as Estate Tax) is a tax which is levied at the time of inheriting any asset. Inheritance Tax is not levied in India as any amount received under a Will or by way of inheritance...

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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 provides for various schemes for saving tax on such capital...

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