Capital Gain Calculation CAPITAL GAINS are the profits earned on sale of capital assets. The profit earned is taxable in the hands of seller. Under section 45(1), if a capital asset is transferred by an assesse, then any profit or gain on such transfer is taxable as capital gain after the exemptions under sections 54, [...]
Rules to be followed Income from any source attracts tax. Capital gains are also taxable in the hands of the seller. Capital gains from short term capital assets are called Short term capital gain, whereas gains from long term capital assets is known as long term capital gain. Provisions for taxation of capital gains Under [...]
A categorical guide to impact on tax, by income from the capital gains Section - I – Basic Concepts: Capital Gain: It is any gain earned from the sale of a capital asset which is known as a “Capital Gain.” The profit is chargeable to the tax in the year where there are capital gains. It is not [...]
Understanding Long-Term Capital Gains Before planning to sell a property it is important to plan your capital gains. Short Term Capital Gains (STCG) and Long Term Capital Gains (LTGC) are two important terms that you need to know before computing the net tax liability. When you sale/transfer assets like property, jewels etc. within three years of its own [...]
