Tag: Capital Gains

post-Section 54, 54EC, 54F: Capital Gain Tax Exemption in 2022
Section 54, 54EC, 54F: Capital Gain Tax Exemption in 2022

Capital Gains Exemption can be claimed under the Income Tax Act by reinvesting the amount in either purchasing/ constructing a Residential House or by reinvesting the amount in Capital Gain Bonds. The seller of the asset either has the option...

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post-Capital Gains Tax on Sale of Property in India in 2022
Capital Gains Tax on Sale of Property in India in 2022

Capital Gains Tax on Sale of Property in India is levied depending on the duration for which the property was held by the seller. If the property was held for less than 2 years – it would be classified as...

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post-How to open Capital Gains Account in India in 2022?
How to open Capital Gains Account in India in 2022?

If a person is claiming Capital Gains Exemption, he is required to deposit the money in a Capital Gains Account before the due date of filing of ITR. This article explains in detail about How to open a Capital Gains...

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post-1% TDS on Sale of Property u/s 194IA in 2022 (Detailed Guide)
1% TDS on Sale of Property u/s 194IA in 2022 (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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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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