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CG(50C/50CA/50D/51/10(37)/54/54F/54B/54D/54EC/111A/112A/112 - Coggle…
CG(50C/50CA/50D/51/10(37)/54/54F/54B/54D/54EC/111A/112A/112
50CA= unquoted shares
consideration<FMV, then FMV=SC
54F: not being residential house
Criteria
not more than 1 house other than sold
Invest from date of transfer
land/building
Asset
land alone
period
1 yr before purchase
2 yrs after purchase
3 yrs after construct
CG
L.T
except: depreciable assets: S.T
includes: depreciabale assets in slump sale
exemption
proportionate cost of new asset
NSC - no CG
assessee
individual/huf
withdrawl
if bought 1 more house in 1 yrb/2yr af/3yrs af
CG scheme
available
10 exemption
10(37): urban agricultural land
not taxab;e only if for agricultural in 2 yrs IPPr.Yr
compensation/enhanced compensation= not taxed
112A: 10%:L.T.C.G
no rebate u/s 87A
L.T.C.G>1 Lac
no deductions
only real loss to be booked(higher of cost or SC or FMV)
NR,no BEL
foreign currency
types
12m: Shares/MF
36m= business trust
50D-any other asset
FMV if no consideration
54EC: investment in specified bonds
Invest
L.T specified asset
period
in 6 m
Criteria
exemption
CG/Cost of new asset(lower)>= 50 lacs
Asset
L/B(includes depreciable asset of slump sale)
withdrawl
in 5 yrs
CG
L.T(NHAI/REC/PPC/IRFC)
CG scheme
not avaliable
assessee
any assessee
deduction u/s 80C/88 available
51: advance money forfeited
COA= actual cost-advance received
from 01/04/14- taxed as IFOS(not reduced from actual cost)
112:L.T.C.G: other than STT
other assets-20%(with index)
BEL available to individual/HUF
unlisted/shares of Pvt.Co.- 10%(no index)
no dedcution available
listed securities/o coupon bonds
10%(no index)
20%(with index)
50C= FVC of building/land
agreement to sale- sale deed(actual sale)-actual registration
which SDV to consider on or before agreement?
advance paid- date of agreement-SDV date
advance not paid- date of registration-SDV date
except: SDV< 110% of consideration, then SC=FVC
SDV> FVC, then SC=SDV
54B: agricultural land
Criteria
land for agriculature in 2yr IPPr.Yr
Invest
agriculatural land(urban)
Asset
agricultuarla land(urban)
period
in 2 yrs from trf
CG
st/lt
exemption
CG/Cost of new asset(lower)
assessee
individual/huf
withdrawl
new asset in 3 yrs trf
CG scheme
avaliable
54: residential property
Criteria
IFHP
INvest
residential house
2 houses
CG<=2 cr
once in lifetime
Asset
Residential House(L+B)
Period from date of transfer
1 yr before trasnfer
2 yrs after transfer
3 yrs after transfer
CG
L.T
Exemption
CG/Cost of new asset(lower)
assesee
Indiavidual/HUF
Withdrawal
Adjusted COA= COA- CG exemption earlier
CG scheme
avaliable
54D: compulsory acquisition of L&B in industral undertaking
Invest
L/B for shift to new undertaking
period
in 3 yrs from trf
Criteria
business for 2 yrs IP Pr.Yr
exemption
CG/Cost(lower)
Asset
L/B for industrial undertaking
withdrawl
in 3 yrs
CG
ST/LT
CG scheme
avalaible
assessee
any assessee
55A: valuation ref. by A.O to revalue
FMV> 15% of claim/FMV>25000 of claim
considering nature of asset
A.O opinion vary from FMV
111A:
15%:
STCG
allowed even if invested in foreign currency
NR, BEL not avaiable
STT paid shares/Mf/Business trust
deductions not avalaible