Category Archives: Capital Gain Tax

CII for A.Y. 2018-19 and CII 2019-20: INCOME TAX COST OF INFLATION INDEX FROM 2001-2002 TO 2018-2019

Central Board of Direct Taxes has issued the notification for Cost inflation index(CII) for FY 2018-2019, each year CBDT declares CII so that income tax assessee can calculate the capital gain for Income tax purpose. The base year for the Cost Inflation Index is Financial Year 2001-2002, which means any property purchased before 1.04.2001, assessee has the option… Read More »


Central Board of Direct Taxes has issued the Income Tax notification for new cost of inflation index for calculating Capital Gain as per section 48 of the Income Tax Act 1961. CBDT through Notification No. 44/2017/F.No.370142/11/2017-TPL has fixed the CII for Income Tax Capital gain calculation base year as 2001-02 i.e. all the assets purchased… Read More »

Capital Gain Account Scheme : Tax Saving Benefits, Applicability, Bank Account Type & Opening Process

Indian Income Tax Capital Gain Account Scheme tax saving benefits, use, applicability, Bank Account Type & account opening process, IT S. 54(B, D, F & G) and list of authorized Public Sector Banks for deposit. Use of Capital Gain Scheme arises when individual wants to buy a residential property within 2 years from the date of sale, or Construct… Read More »

Section 2(14): Meaning of Capital asset

Capital asset means all types of property that are held by a company for investment and useful business purposes. Capital assets are those assets used by the business to make a profit. It however does not include the following: Any stock-in-trade, consumable stores or raw materials held for the purpose of his business or profession;… Read More »

Section 49(2AA): Capital Gain arising from transfer of Specified securities or Sweat equity shares

Earlier, From assessment year 2001-2002— As per the provisions to S. 17(2)(iii) of the Act, the value of any benefit provided by a company free of cost or at a concessional rate to its employees by way of allotment of shares, debentures or warrants directly/indirectly under any employees’ stock option plan (ESOP) or scheme (ESOS) of… Read More »