Section 75 Income Tax Act 2025 Special provision for cost of acquisition in case of depreciable asset. 75. If depreciation has been obtained under section 33(2) for a capital asset in any tax year, the provisions of sections 72 and 73 shall apply subject to the modification that the written down value, as defined in section 41, of the asset, as adjusted, shall… Read More »
Section 74 Income Tax Act 2025 Special provision for computation of capital gains in case of depreciable assets. 74.(1) Irrespective of anything contained in section 2(101), for a capital asset forming part of a block of assets on which depreciation has been allowed under the Indian Income-tax Act, 1922 (11 of 1922) or under the Income-tax Act,… Read More »
Section 73 Income Tax Act 2025 Cost with reference to certain modes of acquisition. 73. (1) In the case of a capital asset specified in column B of the Table below,the cost of acquisition of the asset shall be deemed to be the cost as mentioned in column C of the said Table. Table Sl.… Read More »
Section 72 Income Tax Act 2025 Mode of computation of capital gains. 72. (1) Income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset, the following amounts:— (a) expenditure incurred wholly and exclusively in… Read More »
Section 71 Income Tax Act 2025 Withdrawal of exemption in certain cases. 71. (1) The profits or gains arising from the transfer of capital asset not charged under section 67 by virtue of section 70(1)(c) and (d) shall, irrespective of anything contained in the said clauses, be deemed to be income chargeable under the head “Capital gains” of the tax… Read More »
Section 70 Income Tax Act 2025 Transactions not regarded as transfer. 70. (1) The provisions of section 67 shall not apply to transfer— (a) by way of distribution of capital assets on the total or partial partition of a Hindu undivided family; (b) of a capital asset by an individual or a Hindu undivided family, under a… Read More »
Section 69 Income Tax Act 2025 Capital gains on purchase by company of its own shares or other specified securities. 69. (1) If a shareholder or a holder of other specified securities receives any consideration from any company for the purchase of its own shares or other specified securities held by such shareholder or holder of… Read More »
Section 68 Income Tax Act 2025 Capital gains on distribution of assets by companies in liquidation. 68. (1) Irrespective of anything contained in section 67, where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be regarded as a transfer by the company for the purposes of the… Read More »
Section 67 Income Tax Act 2025 E.-Capital gains Capital gains. 67. (1) Any profits or gains arising from the transfer of a capital asset effected in a tax year shall, save as otherwise provided in sections 82, 83, 84, 85, 86, 87, 88 and 89, be chargeable to income-tax under the head “Capital gains” and shall be deemed to be the income of the tax… Read More »
Section 66 Income Tax Act 2025 Interpretation. 66. For the purposes of Part D of this Chapter,— (1) “agreement”, for the purposes of section 26(2)(h), includes any arrangement or understanding or action in concert,— (A) whether or not such arrangement, understanding or action is formal or in writing; or (B) whether or not such arrangement, understanding or… Read More »