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Taxmann’s Taxation of Capital Gains provides complete an in-depth & thorough analysis on each aspect of capital gains, with the help of ‘relevant’ judicial pronouncements, Circulars & Notifications, illustrations, checklists of actions to claim deductions & FAQs. This book covers the following: Taxation of ULIPs with FAQs Taxation of reconstitution of firms/LLPs/AOPs/BOIs with FAQs Finance Act 2021 measures [Section 43CA amendments] to boost real estate with FAQs The Present Publication is the 10th Edition, as amended by the Finance Act 2021, with the following noteworthy features: [Complete Analysis of each aspect of Capital Gains] with the help of relevant judicial pronouncements and Circular & Notifications [Illustrations] for easy understanding of various complex provisions [Guidance on the Controversial Issues] with supporting Case Laws [Charitable Trusts] Separate chapter for treatment of capital gains in case of charitable trusts Checklist of actions to claim deductions with extended time-limits for compliances under the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 The detailed contents of the book are as follows: Which income is taxable under the head “capital gains” What is ‘capital asset’? Types of capital assets: Short-term capital assets and long-term capital assets What is ‘transfer’? Which transfers do not give rise to taxable capital gains Year of taxability of capital gains Taxation of unit linked insurance policy Transactions between a firm and its partners or between an AOP/BOI and its members Computation of capital gains – Short-term capital gains and long-term capital gains How to compute full value of consideration What is expenditure on transfer of capital assets? What is cost of acquisition? What is cost of improvement? What is indexed cost of acquisition and indexed cost of improvement? Rollover deduction in respect of profit on sale of property used for residence [Section 54] Deduction of rollover of gain on transfer of land used for agricultural purposes [Section 54B] Rollover deduction in respect of capital gain on compulsory acquisition of lands and buildings [Section 54D] Rollover deduction in respect of investment of long-term capital gains from land or building or both in specified bonds [Section 54EC] Capital gains not to be charged on investment in units of a specified fund Deduction in respect of long-term capital gain invested in residential house [Section 54F] Tax incentives for transfer of assets on shifting of industrial undertakings from urban area/shifting of industrial undertaking from urban area to any special economic zone (SEZ) [Section 54G/54GA] Tax exemption for capital gains from sale of residential property if invested in capital of start-up company – Section 54GB Power of CBDT to relax any requirement for claiming deductions Tax computation in respect of STCG Tax computation in case of long-term capital gains Long-term capital gains tax on listed equity shares, units of equity-oriented mutual funds and units of business trusts Reference to valuation officer Loss under the head ‘capital gains’ Distribution of assets by companies in liquidation How to compute capital gains in case of buy-back of shares/specified securities Capital gain and depreciable assets Slump sale Capital gain on intangible assets Charitable trust and capital gains Capital gain in real estate transactions
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