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Capital gains tax can be a significant financial burden for businesses undergoing restructuring or relocation. To incentivize the decentralization of industries from congested urban areas, the Indian Income Tax Act provides relief under Section 54G. This section allows exemptions on capital gains arising from the transfer of assets when an industrial undertaking shifts from an […]

Capital gains tax is a crucial consideration for individuals and Hindu Undivided Families (HUFs) who sell long-term capital assets. However, under Section 54F of the Income Tax Act, 1961, an exemption is available if the proceeds are reinvested in a residential house. This article delves into the eligibility criteria, conditions, and important considerations for claiming

Section 54EE of the Income Tax Act provides a crucial exemption on long-term capital gains for taxpayers who invest in specified funds. This provision is beneficial for individuals and businesses looking to reinvest their gains while optimizing their tax liability. Understanding Section 54EE – As per Section 54EE, if an assessee earns capital gains from

Capital gains tax can be a significant financial burden when selling long-term capital assets such as land or buildings. However, the Income Tax Act of India provides relief under Section 54EC, which allows taxpayers to save on capital gains tax by investing in specified bonds. This article provides a detailed overview of Section 54EC, its

When an industrial undertaking faces compulsory acquisition of land, buildings, or rights in such properties under any law, it may result in capital gains. However, under Section 54D of the Income Tax Act, 1961, an exemption is available if the assessee reinvests the proceeds in a new asset within the prescribed period. This provision ensures

The Income Tax Act provides relief to individuals and Hindu Undivided Families (HUFs) from capital gains tax on the transfer of urban agricultural land under Section 54B. This section allows taxpayers to reinvest the capital gain from the sale of agricultural land into new agricultural land and claim an exemption from tax. Eligibility for Exemption

Selling a residential property can lead to substantial capital gains, which are subject to taxation under the Income Tax Act. However, the Indian tax laws provide relief under Section 54 to individuals and Hindu Undivided Families (HUFs) who reinvest the capital gains into another residential property. This article provides a detailed analysis of Section 54,

Capital gains are a crucial aspect of taxation in India, governed under the Income Tax Act, 1961. The mode of computation of capital gains is defined under Section 48, which lays down the method to determine taxable capital gains by deducting specified expenses and costs from the total consideration received. Understanding Section 48: Computation of

When dealing with capital gains taxation, one of the crucial aspects is determining what constitutes a “transfer” under Section 45 of the Income Tax Act, 1961. However, certain transactions are explicitly excluded from being considered as a transfer under Section 47, thereby exempting them from capital gains tax. This article explores these transactions and their

Introduction Capital gains refer to the profits or gains derived from the transfer of a capital asset. As per Section 45(1) of the Income Tax Act, such gains are chargeable to income tax in the year in which the transfer takes place unless exempted under specific provisions like Sections 54, 54B, 54D, etc. This blog