Description
Commercial Law Publishers India Pvt Ltd Computation of Income from Capital Gains 5th Edition 2021 by Ram Dutt Sharma
About the book
Income from capital gains is one of the important heads of income under the Income Tax Act, 1961. Lack of awareness amongst taxpayers is often cited as the main reason for low level of compliance towards tax laws. Our work revolves around us creating assets and wealth in a bid to lead a more comfortable lifestyle. Asset creation is a hard task in itself, involving time and effort but the end results are often worth the toil and sweat. As 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.
Quite often, people dispose of their movable and immovable asset, but due to lack of knowledge about the provisions of law, they are not aware about their liability towards Capital Gains Tax. This book titled “Computation of Income from Capital Gains” under Income Tax Law is an attempt to help the taxpayers by explaining the provisions relating to calculation of Capital Gains Tax in an easy-to-understand language. The amendments made by the Finance Act, 2021 have been incorporated at appropriate places in the book.