Category: Capital Gain

Computation of Income under the head ‘Capital Gain’ for Assessment Year 2020-21

Exemptions in Capital Gain – Table Summary View

Exemptions available in Computation of Capital Gain in a Table Summary View under Sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, 54GB Sections Assessee to whom Allowed Conditions to be satisfied Quantum of Exemption Section 54 Individua / HIJF 1. Transfer should be of a residential house income of […]

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Exemption of Capital Gains under Sections 10 and 54

Certain assets are not ‘Capital Assets’ for purposes of capital gain and hence there is no gain on transfer of such assets. Similarly, there are certain transactions which are not regarded as ‘transfer’ for capital gain purposes, and hence there is no capital gain on such transactions. We will now […]

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Computation of Capital Gain in Certain Cases

1. Capital Gain from Zero-Coupon Bonds (1) Meaning of Zero-Coupon Bond [Section 2(48)]: “Zero Coupon Bond” means a bond— issued by any infrastructure capital company or infrastructure capital fund or public sector company or scheduled bank; in respect of which no payment and benefit is received or receivable before maturity […]

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Cost of Acquisition of Assets [Section 55(2)] under Capital Gain

Cost of Acquisition is the price which the assessee has paid, or the amount which the assessee has incurred, for acquisition of the asset. Expenses incurred for completing the title are a part of the cost of acquisition. Interest on money borrowed for acquiring capital assets will form part of […]

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Income under the Head ‘Capital Gain’ – Defined

1. Basis of Charge in case of Capital Gain [Section 45(1)] Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall be chargeable to income-tax under the head ‘Capital Gains’ and shall be deemed to be the income of the previous year […]

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