This exemption is available to an individual, HUF, company or any other person who invests the long term capital gain, within 6 months of the transfer of the capital asset, in any of the specified bond (issued on or after April 1, 2006) redeemable after 3 years: National Highway Authority of India (NHAI), or Rural… Read More »
The exemption u/s 54 is available only an individual or a HUF who transfers (or sells) a residential house/property that results in a long-term capital gain, and then invests the amount of gain in acquiring a new residential house. This exemption is available subject to fulfillment of the following requirements: (i) The transferor shall be an… Read More »
This exemption is available an individual, HUF, company or any other person who transfers the capital assets (being plant, machinery, land or building or any right in the land or building) being used for the purpose of industrial undertaking situated in an urban area to a special economic zone (SEZ). The assessee purchases within one… Read More »
Capital gains arising on the transfer of land used by an individual or his parents for agricultural purposes for a period of two years immediately preceding the date of transfer is exempt from the tax if the individual assessee has purchased another agricultural land within a period of two years from the date of such… Read More »
Current Income Tax Rate on Long Term Capital Gain (LTCG) @20% u/s 112 of Income Tax Act, 1961 on Land, Building, House Property or other assets but long term gain on listed securities is fully exempted on which STT is paid i.e. if you have sold your shares and securities through recognized stock exchange is… Read More »
S. 111A: Current Income Tax Rate on Short Term Capital Gain (STCG) on transfer of equity shares or units of equity-oriented mutual fund under Income Tax Act, 1961. If investor sell this stock/shares/securities within 12 months from date of purchase then any gain on such investment will be treated as short term gain and will be… Read More »
In order to further develop the government securities market and enhance liquidity, it has been decided to bring down the ceiling on SLR securities under the HTM category from 24 per cent of NDTL to 22 per cent (As per DBOD.No.BP.BC.42/21.04.2014-15 dated 7 October, 2014) in a graduated manner. Accordingly it is advised that: Banks… Read More »
As per S. 10(38), Long-term capital gains arising on transfer of equity shares or units of equity oriented mutual fund is not chargeable to tax from the A.Y. 2005-06 if such a transaction is covered by securities transaction tax. The securities transaction tax is applicable if equity shares or units of equity oriented mutual fund transferred on… Read More »
Profits or gains arising from the transfer of a capital asset made in a previous year is taxable as capital gains under the head “Capital Gains”. The important ingredients for capital gains are, therefore, existence of a capital asset, transfer of such capital asset and profits or gains that arise from such transfer. A capital asset is defined to include… Read More »
Capital asset means property of any kind held by an assessee whether or not connected with his business or profession. 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; Personal effects, i.e., movable property (including wearing apparel and furniture, excluding jewellery),… Read More »