Tag Archives: Capital Gain Tax

Section 115-UB Tax on income of investment fund and its unit holders

Section 115-UB Tax on income of investment fund and its unit holders
Introduction & Its Applicability:
Section 115-UB of Income Tax Act, 1961 shall be inserted by the Finance Act, 2015, and is applicable w.e.f.

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Concept of Reverse Mortgage

Concept of reverse mortgage is introduced recently in India, under the reverse mortgage scheme senior citizen who holds the house property, but lacks regular source of income can put his property under mortgage with bank
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How determine cost of Acquisition of Self Generated Assets

B.C.Srinivasa Setty (SC)
The cost of acquisition of a self generated asset is not determinate, Therefore, capital gains not possible to be computed when a self generated asset is transferred.Hence ,no capital gains will arise

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Capital gain on conversion of capital Assets into stock-in-trade-Section 45(2) And Section 2(47)

Bai shrinbai k.Kooka(SC)
There is no transfer involved when an assesses converts a capital assets into stock in trade of the business carried on by him. The act of conversion is similar to taking out

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Treatment of Advance Money Received,Slump Sale FMV Calculation under Capital Gain

1. Section 51 – Advance Money Received
2. Section 50D- Fair Market Value deemed to be full value of consideration in certain cases
3. Section 50B – Special

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When does income be taxed as Capital gain or Business income?

When the transaction involves transfer of capital asset then it will constitute capital gain, whereas transaction which is entered into normal course of business shall constitute business income.
We will see some Practical Issues regarding

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