Taxmann’s Taxation of Capital Gains – Complete analysis with the help of ‘relevant’ judicial pronouncements, Circulars & Notifications, illustrations, checklists of actions to claim deductions & FAQs
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Taxmann’s Taxation of Capital Gains provides complete an in-depth & thorough analysis on each aspect of capital gains, with the help of ‘relevant’ judicial pronouncements, Circulars & Notifications, illustrations, checklists of actions to claim deductions & FAQs. This book covers the following:
- Taxation of ULIPs with FAQs
- Taxation of reconstitution of firms/LLPs/AOPs/BOIs with FAQs
- Finance Act 2021 measures [Section 43CA amendments] to boost real estate with FAQs
The Present Publication is the 10th Edition, as amended by the Finance Act 2021, with the following noteworthy features:
- [Complete Analysis of each aspect of Capital Gains] with the help of relevant judicial pronouncements and Circular & Notifications
- [Illustrations] for easy understanding of various complex provisions
- [Guidance on the Controversial Issues] with supporting Case Laws
- [Charitable Trusts] Separate chapter for treatment of capital gains in case of charitable trusts
- Checklist of actions to claim deductions with extended time-limits for compliances under the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020
The detailed contents of the book are as follows:
- Which income is taxable under the head “capital gains”
- What is ‘capital asset’?
- Types of capital assets: Short-term capital assets and long-term capital assets
- What is ‘transfer’?
- Which transfers do not give rise to taxable capital gains
- Year of taxability of capital gains
- Taxation of unit linked insurance policy
- Transactions between a firm and its partners or between an AOP/BOI and its members
- Computation of capital gains – Short-term capital gains and long-term capital gains
- How to compute full value of consideration
- What is expenditure on transfer of capital assets?
- What is cost of acquisition?
- What is cost of improvement?
- What is indexed cost of acquisition and indexed cost of improvement?
- Rollover deduction in respect of profit on sale of property used for residence [Section 54]
- Deduction of rollover of gain on transfer of land used for agricultural purposes [Section 54B]
- Rollover deduction in respect of capital gain on compulsory acquisition of lands and buildings [Section 54D]
- Rollover deduction in respect of investment of long-term capital gains from land or building or both in specified bonds [Section 54EC]
- Capital gains not to be charged on investment in units of a specified fund
- Deduction in respect of long-term capital gain invested in residential house [Section 54F]
- Tax incentives for transfer of assets on shifting of industrial undertakings from urban area/shifting of industrial undertaking from urban area to any special economic zone (SEZ) [Section 54G/54GA]
- Tax exemption for capital gains from sale of residential property if invested in capital of start-up company – Section 54GB
- Power of CBDT to relax any requirement for claiming deductions
- Tax computation in respect of STCG
- Tax computation in case of long-term capital gains
- Long-term capital gains tax on listed equity shares, units of equity-oriented mutual funds and units of business trusts
- Reference to valuation officer
- Loss under the head ‘capital gains’
- Distribution of assets by companies in liquidation
- How to compute capital gains in case of buy-back of shares/specified securities
- Capital gain and depreciable assets
- Slump sale
- Capital gain on intangible assets
- Charitable trust and capital gains
- Capital gain in real estate transactions