(1)        When an asset is acquired by the government through the process of compulsory acquisition, it can have tax implications for the owner. One of the key considerations is the capital gain that may arise from such a transfer. In this blog post, we will explore the provisions under Section 45(5) of the Income Tax […]

(1)        When a company goes into liquidation, it is important to understand the implications it can have on the distribution of assets and any potential capital gains that may arise. Section 46 of the tax code specifically addresses this issue and provides guidance on how capital gains should be treated in such situations. (2)        Under

Section 50C of the Indian Income Tax Act, 1961, is applicable to the computation of capital gains in real estate transactions, specifically for the sale of land or building or both. It is aimed at ensuring that the fair market value (FMV) of the property is appropriately considered for taxation, even if the actual sale

(1)        Capital gains tax is an important aspect of the Indian Income Tax Act, 1961. Section 46A of the act specifically deals with the capital gains arising from the purchase of a company’s own shares or other specified securities. It is crucial for individuals and companies to understand the provisions of this section to ensure

Understanding of Capital Gain When it comes to the transfer of shares or debentures by non-residents, understanding the implications of capital gain is crucial. Capital gain refers to the profit or gain that arises from the sale or transfer of a capital asset. In the case of non-residents, the provisions of Proviso 1 to Section

Understanding and Conditions of Section 115F As a Non-Resident Indian (NRI), understanding the tax implications of your investment is crucial. One particular aspect to consider is the exemption of long-term capital gains arising from the transfer of ‘foreign exchange assets’ under Section 115F of the Income Tax Act. Section 115F provides a beneficial provision for

Understanding of Section 54 When an individual sells a residential house property, they are liable to pay capital gains tax on the profit made from the sale. However, under Section 54 of the Income Tax Act, 1961, individuals can claim an exemption on the capital gains arising from the transfer of a residential house property

Understanding of Section 54B Agriculture plays a vital role in the economy of many countries, providing food, employment, and contributing to GDP growth. In recognition of the importance of agriculture, governments often introduce policies and incentives to support and promote the sector. In India, one such incentive is the exemption of capital gains on the

As per Section 54D, the Capital Gain arising from the transfer, by way of compulsory acquisition under any law, of land or buildings forming part of an industrial undertaking belonging to the assessee are Exempt, if the following conditions are satisfied: (i)         the transfer is by way of compulsory acquisition of the asset;  (ii)      

Long-term capital gain arising on the transfer of any capital asset being land or building or both is exempt under Section 54EC in the following circumstances: (i)         The asset (i.e., land or building or both) transferred is a long-term capital and hence, there is a long-term capital gain. (ii)        The asset is transferred