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INCOME FROM CAPITAL GAINS - Coggle Diagram
INCOME FROM CAPITAL GAINS
CAPITAL GAINS
Sections 45 to 55A of the Income-tax Act, 1961
CAPITAL ASSET [Section 2(14)]
SHORT-TERM & LONG-TERM ASSETS
Section 2(42A)
Transfer
includes
Sale exchange / relinquishment of assets
extinguishment of rights
compulsory acquisition thereof
under law
conversion of assets into stock
in trade
maturity / redemption of
zero coupan bond
What doesn’t constitute Transfer?
Section 47
total / partial partition of HUF
gift / irrevocable trust
Holding Company to its wholly owned Indian
amalgamating company to amalgamated company
demerged company to resulting company
Year of Chargeability as “Capital Gains”
MODE OF COMPUTATION
Section 48
Capital Gains for Depreciable Assets (Section 50)
Capital Gains in respect of Slump Sale (Section 50B)
Meaning of slump sale [Section 2(42C)]
Capital Gain in Real Estate Transaction [Section 50C]
Transfer of Unlisted Shares in a Company [Section 50CA]
Fair Market Value to be Full Value of Consideration in Certain Cases (Section 50D)
REFERENCE TO VALUATION OFFICER (SECTION 55A)
EXEMPTION OF CAPITAL GAINS
Section 10(37)
Section 10(38)
Under Sections 54, 54B,54D, 54EC, 54F, 54G,and 54H
Profit on sale of property used for residence [Section 54]
Transfer of land used for agricultural purposes [Section 54B]
Compulsory acquisition of lands and buildings [Section 54D]