Save Capital gains tax on selling a shop I recently sold my shop and made capital gains of Rs 33 lakh. How can I save tax on these gains? You will need to pay tax on short-term capital gains at the applicable slab rate,unless you have any capital losses to adjust.If the shop was held […]
Low inflation means you pay more capital gains tax Prices rising at a slower rate should be good news. But not if you have earned long-term capital gains tax. The consistent decline in inflation in the past 3-4 years means that long-term capital gains hardly can be escape tax through indexation.
How to calculate capital gains Calculation of capital gains can be a complex and challenging mission relying on the nature and the number of transactions undertaken by the assessee in a financial year. It is always suggested to take the advice from an professional like a chartered accountant for the same. However, Assessee can also […]
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. 01-04-2016.
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 on the sale of self generated asset.The amount received will be […]
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. This conversion is similar to taking out the money from one pocket to other pocket of […]
Advance Money Received,Slump Sale on FMV under Capital Gain COMPUTATION OF CAPITAL GAIN IN CERTAIN CASES 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 provision for computation of capital gains in case of Slump Sale […]