long term capital gain holding period


FM takes a serious view of opposition by Income Tax officers

The Union Finance Minister Shri Arun Jaitley takes a serious view of the resolution by Officers of Indian Revenue Service Income Tax against Department of Revenue The Ministry of Finance has learnt through a newspaper item which appeared today that some officers of Indian Revenue Service Income tax

IPC results to be declared on 2nd August for May 2016

IMPORTANT ANNOUNCEMENT The result of the Chartered Accountants Intermediate Integrated Professional Competence Examination held in May 2016 is likely to be declared on Tuesday the 2nd August 2016 around 4 00 P M andthe sameaswell as the merit list candidates securing a minimum of 55 andabove marks a

Time table for Nov 2016 CA exams released

No 13 CA EXAM N 2016 In pursuance of Regulation 22 of the Chartered Accountants Regulations 1988 the Council of the Institute of Chartered Accountants of India is pleased to notify that the Intermediate IPC and Final examination will be held on the dates given below at the following places provided

Synchronisation of financial accounting year with calendar year

Government has constituted a Committee to examine the desirability and feasibility of having a new financial year and give its recommendations by 31st December 2016 The terms of reference ToR of the Committee are as under Examine the merits and demerits of various dates for the commencement of the f

SIT on black money recommends ban of cash transaction above 3 lakh and cash holding more than 15 lakhs

Recommendations of SIT on Black Money as Contained in the Fifth SIT Report The Fifth SIT report has been submitted before the Honble Supreme Court by the SIT An extract of the report has been uploaded on Department of Revenue websitewww dor gov in The SIT has made the following recommendations in th

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Experts Opinions

Capital gain tax

My father died leaving a 3bhk flat which i managed to sell for 66 lacs after18 months of his death I have only one sister and mother is also deceased I made my sister to relinquish her100 share since she wanted to buy a flat After that I sold the flat with mutation in my name I gave 2 3 of 44 lacs 3

Capital gain

My father died leaving a 3bhk flat which i managed to sell for 66 lacs after18 months of his death I have only one sister and mother is also deceased I made my sister to relinquish her100 share since she wanted to buy a flat After that I sold the flat with mutation in my name I gave 2 3 of 44 lacs 3

Reversal cenvat against annexure 45

Dear Sir We have dispatch the Goods against Annexure 45 for Exempted Goods is that required 6 reverse of cenvat

Property tax-capital gain

I sold inherited flat in 2012 and invested in another property jointly with my sibling What does non PAN transaction mean for selling house and whether it is considered as undisclosed income in IDS 2016 I want to know whether i will have to pay 45 tax and penalty As far as I remember we had given a

Capital gain adjustment & itr 2 help with same

I know people would be busy appreciate if I can get some help with below questions 1 In FY15 16 I have short Capital loss of 2 Lakh from equity over the year and from previous years I have accumulated loss of 2 Lakh 2 In FY15 16 I have long term capital gain of 20 Lakh transaction happened in April


Gift of sale proceeds of a capital asset received by a lady to her father in law

whether a irrevocable gift made by a daughter in law to her father in law will attract clubbing provisions mentioned in section 60 to 64 of the act Also guide regarding tax implications if any

Capital gain question

is attached working is correct

Interest to partners on capital

Whether it is mandatory to pay interest to Partners on capital What if we not pay it

Loss set off against business income

Dear Sir If this loss of income from other sources adjusted with business income under presumptive basis u s 44AD or 44AE then where I can put this loss in ITR 4S Please clarify me anyone

Sale of agricultural land not a capital asset

Income from sale of rural agricultural land which does not come u s 54 ie which is not a capital asset is exempt income but if it is more than 5000 it is to be declared Where should I declare the income in ITR 2 The schedule for exemptions E1 does not provide any specific row It cannot be agricultur

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  • CA Final - Allied Law Charts

    This file contains Allied law Competition Act 2002 along with Practical questions relevant for CA Final Nov 2016
  • Income Tax Calculation 2016-17

    Prepare form 16 upto 500 employee in single excel sheet Tax calculation and prepare section 89 1 relief from F Y 1985 86 to 2016 17 View Tax Rate for last 31 years Calculation of Tax under section 234A 234B 234C prepare challan no 280 281 Find out TDS TCS rates Find out Maturity value of Term Deposit RD House Rent Allowance rebate calculation and find out interest on NSC and much more in single excel sheet
  • Ind AS 10 Event Occurring After the Reporting Period

    This has Objective Scope Definitions Adjusting and Non Adjusting Events Examples Special treatment of Dividend and Going Concern Disclosure
  • Ind AS 7 "Statement of Cash Flows"

    This is the summary of Ind AS 7 It prescribes Objective Scope Operating Activities Investing Activities Financing Activities Some Specific Terms like foreign exchange fluctuation Interest Dividend etc
  • CA Final DT Laws-Must read -Treatment of Business Issues N16

    Entire syllabus of Direct Taxes covered in less than 200 pages without diluting the syllabus Easy to cover syllabus in a week who is in employment and unable to complete portion in time Finance Act 2015 are duly incorporated Applicable for November 2016 for following professional examinations 1 CA Final Paper 7 Direct Tax Laws 2 C M A Intermediate Paper 4 Direct Taxation 3 C S Executive Paper 7 Tax Laws and Practices Best of luck

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Ind AS 10: Events occurring after the reporting period

Background Today we live in a dynamic business world where changes in business environment are eminent Some of these changes are important for users of financial statements such as shareholders because they play a key role in decision making In order to bring about uniformity in changes in business

Differences between a 'Home loan' and a 'Loan against property'

I have observed that many people can not differentiate correctly between a home loan and a loan against property Many people call me to inquire about a home loan against security of a property already owned by them It is not a home loan Instead it is a mortgage loan or a loan against property or a L

Capital Budgeting for Beginners - Part 1

Capital Budgeting All of us at one point in time or another have prepared a budget in one form or another The reason for this is primarily to find out if we can afford the costs investments where to get the money from and how much would it give in return In fact many of the households manage domesti

Exemption on capital gains

Capital Gain Deposit Account Scheme To claim exemption under section 54 the taxpayer should purchase another house within a period of one year before or two years after the date of transfer of old house or should construct another house within a period of three years from the date of transfer If til

Which is the best capital protection investment plan?

Protecting your capital a BIG task Isnt it You have your higher studies planned EMI to take care of and a huge college fees for your children awaiting to empty your purse in couple of years And of course unwanted emergencies like health issues and uncertainty at work which can lead to unexpected per

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Updated on : 7/31/2016 3:42:14 AM

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