Computation of Income From Capital Gains - Under Indian Income Tax law (As Amended by finance Act, 2023)

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Description
Lack of awareness amongst tax payer is often cited as the main reason for low level of compliance towards tax laws. It is my constant endeavor to increase the awareness of the taxpayers about the provisions of tax laws and the steps taken by the Government to reduce the complexities of tax laws and improve Tax Payer Services. Income from capital gains is one of the important heads of income under the Income Tax Act, 1961. Our earlier publications i.e. "Taxation of Non Resident Indians" under the Indian Income Tax Law and "Computation of Income from Salary" have proved to be an effective and convenient tool to educate the taxpayers in discharge of their tax liabilities relating to direct taxes. Our work revolves around us creating assets and wealth in a bid to lead a more comfortable life style. Asset creation is a hard task in itself, involving time and effort but the end results are often worth the toil and sweat. As a citizens of India it is our duty to pay taxes on our wealth, which includes assets as well, and Capital Gain refers to the profit which one gets when he / she transfers a capital asset.
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Contents
COMPUTATION OF INCOME FROM CAPITAL GAINS
Chapter 1:    Introduction
Chapter 2:    Essential Conditions for Taxation of Profits under the Head 'Capital Gains'    
Chapter 3:    "Capital asset" means
Chapter 4:     Transfer in relation to a capital assets                                
Chapter 5:     Scope of deemed transfer for taxing capital gains             
Chapter 6:      Period of Holding                                                                       
Chapter 7:      Chargeability of Capital Gains                 
Chapter 8:      Any Profits or Gains Arising from Transfer of a Capital Asset
Chapter 9:      Capital Gains when Insurance is Received
Chapter 10:    Taxation of Proceedings of high premium unit linked insurance policy (ULIP)
Chapter 11:    Capital Gains on Conversion of Capital Assets into Stock-in-Trade
Chapter 12:     Chargeability of capital gain on transfer of security by depository
Chapter 13:     Capital Gain on Transfer of Capital Asset by a Partner, Member to a Firm or
                          Association of Persons or Body of Individuals, as Capital Contribution
Chapter 14:     Capital Gain on Transfer of Capital Asset by Way of Distribution on the
                          Dissolution of a Firm//AOP/BOI to Partner/Member on its dissolution or reconstitution
Chapter 15:      Capital Gain on Transfer by Way of Compulsory Acquisition of an Asset by Government
Chapter 16:      Special Provisions for Computation of Capital Gains in Case of Joint Development Agreement     
Chapter 17:      Re-purchase of Units under Section 80CCB
Chapter 18:      Computation of Various Types of Capital Gains
Chapter 19:      Short-term Capital Gains in certain cases
Chapter 20:      Tax on Long-term Capital Gains 
Chapter 21:      Long-term Capital Gains on transfer of Zero Coupon Bonds 
Chapter 22:      Tax on Long-term Capital Gains in Certain cases
Chapter 23:      Capital Gains tax on sale of Bonus Shares
Chapter 24:      Bonus Stripping transactions
Chapter 25:      Capital Gains tax on Sale of right Withdrawal of Exemption in certain Cases
Chapter 26:      Capital gains taxation of Mutual Funds
Chapter 27:      Capital gains on Self-generated Capital Asset
Chapter 28:      Capital gains from transfer of unlisted shares
Chapter 29:      Capital Gains on distribution of Assets by Companies in its Liquidation
Chapter 30:      Capital Gains on Purchase by a Company of its Own Shares or other specified Securities
Chapter 31:      Transactions not treated as Transfer
Chapter 32:      Withdrawal of Exemption in certain cases
Chapter 33:      Mode of Computation of Capital Gains
Chapter 34:      Expenditure incurred wholly and exclusively in connection with transfer of capital asset
Chapter 35:      Cost  Acquisitions of the asset and the cost of any improvement thereof
Chapter 36:      Special Provisions in the cases of a Non-Resident Indian
Chapter 37:      Cost Inflation Index
Chapter 38:      Cost  with Reference to Certain Modes of Acquisition
Chapter 39:       Capital Gain on Depreciable Assets
Chapter 40:       Special Provisions for cost of acquisition in case of depreciable asset
Chapter 41 to 86
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Author Details
Ram Dutt Sharma got his post-graduation (M.Sc.) from M.D. University, Rohtak in 1980. He joined the Income-tax Department in the year 1983 and presently working as Income Tax Officer in Faridabad. He worked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of income Tax Department such as assessment unit, Special Range, TDS Wing, Investigation Wing, Intelligence and Criminal Investigation etc. He has been contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of books on direct taxes, namely Computation of income from salary under income tax law with tax planning, Computation of income from house  property, Formation and Management of Charitable and Religious Trust, Educational and Medical Institutions under income-tax law, Taxation of Non-Resident Indians  under income-tax law etc. which have been highly appreciated by the readers.
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