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Computation of Income From Capital Gains - Under Indian Income Tax law (As Amended by finance Act,2020)

Computation of Income From Capital Gains - Under Indian Income Tax law (As Amended by finance Act,2020)

  • ₹795.00

In Stock
  • Author(s): Ram Dutt Sharma
  • Brand: Commercial Law Publishers (India) Pvt Ltd
  • Edition: 4 Ed June 2020
  • ISBN 13 9788194610779
  • Approx. Pages 584 + Contents
  • Format Paperback
  • Approx. Product Size 24 x 16 cms
  • Delivery Time Normally 7-9 working days
  • Shipping Charge Extra (see Shopping Cart)

As Amended by
»    Finance Act, 2020 (12 of 2020) dt. 27.3.2020
»    Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dt. 31.3.2020
»    Covid-19 Relief Provisions
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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:    Period of Holding
Chapter 4:    Chargeability of Capital Gains
Chapter 5:    Any Profits or Gains Arising from Transfer of a Capital Asset
Chapter 6:    Capital Gains when Insurance is Received
Chapter 7:    Capital Gains on Conversion of Capital Assets into Stock-in-Trade
Chapter 8:    Changeability of Capital Gain and Transfer of Beneficial Interest in Securities 
                       by the Depository under Section 45(2A) - Sale shares held as Depository
                        (Transfer of Security in Demat Form)
Chapter 9:    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 10:  Capital Gain on Transfer of Capital Asset by Way of Distribution on the
                        Dissolution of a Firm//AOP/BOI
Chapter 11:  Capital Gain on Transfer by Way of Compulsory Acquisition of an Asset
                       by Government
Chapter 12:  Special Provisions for Computation of Capital Gains in Case of Joint
                        Development Agreement
Chapter 13:  Re-purchase of Units under Section 80CCB
Chapter 14:  Computation of Various Types of Capital Gains
Chapter 15:  Capital Gains on Distribution of Assets by Companies in Liquidation
Chapter 16:  Capital Gains on Purchase by a Company of its own shares/Securities
                       (Buy-back)
Chapter 17:  Transactions not Treated as Transfer
Chapter 18:  Withdrawal of Exemption in certain Cases
Chapter 19:  Methods of Computation of Capital Gains
Chapter 20:  Mode of Computation (Full Value of Consideration)
Chapter 21:  Cost Inflation Index
Chapter 22:  Cost  with Reference to Certain Modes of Acquisition
Chapter 23:  Capital Gain on Depreciable Assets
Chapter 24:  Capital Gains in Case of Slump Sale
Chapter 25:  Full Value of Consideration :Stamp Duty Valuation 
Chapter 26:  Special Provisions for Full Value of Consideration for Transfer of
                        Assets other than Capital Assets in Certain cases
Chapter 27:  Special Provisions for Full Value of Consideration for Transfer of Share
                       Other than Quoted Share
Chapter 28:  Fair Market Value Deemed to be Full Value of Consideration in Certain Cases
Chapter 29:  Advance Money Received 
Chapter 30:  Capital Gains Exempt from Income Tax
Chapter 31:  Exemption of Capital Gains
Chapter 32:  Capital Gains Arising from the Transfer of Residential House
Chapter 33:  Capital Gains Arising from Transfer of Urban Agricultural Lans used for
                       Agricultural Purpose
Chapter 34:  Capital Gain on Compulsory Acquisition of Land & Building used for Industry
Chapter 35:  Capital Gain on Transfer of Long-term Capital Assets not to be Charged in the
                       Case of Investment in Specified Securities - Applicable only in Respect of Assets
                       Transferred before 1-4-2000
Chapter 36:  Capital Gain on Transfer of Long-term Capital Assets not to be Charged in
                       Certain Cases 
Chapter 37:  Capital Gain not to be Charged on Investment in Certain Bonds (Financial Assets)
Chapter 38:  Capital Gain on Transfer of Certain listed Securities or Unit, not to be
                        Charges in Certain Cases
Chapter 39:  Capital Gain not to be Charged on Investment in Units of a Specified Fund
Chapter 40:  Capital Gain on Transfer of a Long-term Capital Asset other than a House
                       Property
Chapter 41:  Capital Gain Arising on Transfer of Assets in the Cases of Shifting of Industrial
                        undertaking from Urban Area
Chapter 42:  Capital Gains on Transfer on Assets in the Case of Shifting of Industrial
                       undertaking from Urban Area to any Special Economic Zone (SEZ)
Chapter 43:   Capital Gains on Transfer of Residential Property not to be Charges in
                        Certain Cases (House or Plot of Land) 
Chapter 44:  Extension of time for Acquiring New Asset or Depositing or Investing Amount
                       of Capital Gain
Chapter 45:  Cost of any Improvement for the Purposes of Section 48 and 49
Chapter 46:  Cost of Acquisition for the Purposes of Sections 48 & 49
Chapter 47:  cost of Acquisition to the Previous Owner
Chapter 48:  Reference to Valuation Officer
Chapter 49:  Long-Term Capital Gain on Transfer of Foreign Exchange Assets by a
                        Non-resident Indian (NRI) not to be Charged in Certain Cases
Chapter 50:  Special Provisions in the Case of a Non-Resident Indian (NRI)
Chapter 51:  Capital Gains Accounts Scheme, 1988
Chapter 52:  Securities Transaction Tax (STT)
Chapter 53:  Set-off and Carry Forward of Capital Loss
Chapter 54:  Tax Deducted at Source (TDS)
Chapter 56:  Computation of Capital Gain
Chapter 57:  Important Forms    
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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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