Lucid commentary on capital gains with illustrations. Updated till notification no. 32/2020, dated 12-06-2020. Incorporating all the latest amendments. Highlighted the amendments brought in by the Finance Act, 2020. Reference to important recent judicial decisions.
Table of Contents:
Framework of Capital Gains Tax
Chargeability of Capital Gains
Types of Capital Assets and Gains
Capital Gain Arises only on Transfer of a Capital Asset
Computation of Capital Gains
Capital Gain in Case of Amount Received from an Insurer on Account of Damage or Destruction of any Capital asset
Capital Gain on Conversion of Capital Assest into Stock in Trade
Capital Gain on Transfer of Capital Assets by a Partner/Member to a Firm/AOP etc. and by a firm etc to the Partner/ Member
Capital Gain on Transfer by Way of Compulsory Acquisition of an Assets
Capital Gain on Conversion of debentures into Shares/Debenture
Capital Gains on Distribution of Assets by Companies in Liquidation
Capital Gain on Assets which have no Cost of Acquisition
Capital Gain on Transfer of Depreciable Assets
Computation of Capital Gain in Cases of Business Reorganisation
Computation of Capital Gains in Real Estate Transactions
Capital Gain in case of Development/Collaboration Agreements
Capital Gain in case of Transfer of Securities
Capital Gain in case of Buy Back of Shares
Capital Gain on Transfer of Specified Security or Sweat Equity Share
Capital Gain on Conversion of a Company to Limited Liability Partnership
Taxation of Capital Gain on Transfer of Property received without consideration or for Inadequate Consideration, if Sold Subsequently
Transfer of Securities by Depository
Capital Gain for Non-Residents
Reference to Valuation Officer
Exemption of Capital Gains
Miscellaneous Provisions
Set off or Carry Forward and Set off of Capital Losses
Computation of Tax on Long tern Capital Gains and on Short tern Capital gains in Certain cases
Advance Payment of Tax in Case of Capital Gains
Tax Planning
Appendix:
Capital Gains Accounts Scheme, 1988
Rural Agricultural Land
Relevant Circulars and Notifications
Relevant Forms Recent Judicial Decisions