Income Tax Act, 2025

Book Details

Preface to the Twenty-first Edition	vii
Table of Cases	xi

Chapter 1 Framework of Capital Gains Tax	1
Chapter 2 Chargeability of Capital Gains	7
Chapter 3 Types of Capital Assets and Gains	48
Chapter 4 Capital Gain Arises only on Transfer of a Capital Asset	67
Chapter 5 Computation of Capital Gains	123
Chapter 6 Capital Gain in Case of Amount Received from an Insurer on Account of Damage or Destruction of any Capital Asset	207
Chapter 7 Profits or Gains Arising from Receipt of any Amount under a Unit Linked Insurance Policy	212
Chapter 8 Capital Gain on Conversion of (A) Capital Asset into Stock-inTrade or (B) Stock-in-Trade into Capital Asset	218
Chapter 9 Capital Gain on Transfer of Capital Asset by a Partner/Member to a Firm/AOP, etc. and by a Firm, etc., to the Partner/Member	227
Chapter 10 Capital Gain on Transfer by Way of Compulsory Acquisition of an Asset	257
Chapter 11 Capital Gain on Conversion of (A) Debentures into Shares/Debentures (B) Preference shares into equity shares	265
Chapter 12 Capital Gains on Distribution of Assets by Companies in Liquidation	269
Chapter 13 Capital Gain on Assets which have no Cost of Acquisition	274
Chapter 14 Capital Gain on Transfer of Depreciable Assets	283
Chapter 15 Computation of Capital Gain in Cases of Business Reorganisation	293
Chapter 16 Computation of Capital Gains in Real Estate Transactions	319
Chapter 17 Capital Gain in Case of Development/Collaboration Agreements	335
Chapter 18 Capital Gain in Case of Transfer of Securities	368
Chapter 19 Capital Gain in Case of Buy Back of Shares	440
Chapter 20 Capital Gain on Transfer of Specified Security or Sweat Equity Share	446
Chapter 21 Capital Gain on Conversion of a Company to Limited Liability Partnership	453
Chapter 22 Taxation of Capital Gain on Transfer of Property Received without Consideration or for Inadequate Consideration, if Sold Subsequently	458
Chapter 23 Transfer of Securities by Depository	475
Chapter 24 Capital Gain for Non-Residents	477
Chapter 25 Reference to Valuation Officer	499
Chapter 26 Exemption of Capital Gains	506
Chapter 27 Miscellaneous Provisions	611
Chapter 28 Set off or Carry Forward and Set off of Capital Losses	631
Chapter 29 Computation of Tax on Long-term Capital Gains and on Shortterm Capital Gains in Certain Cases	640
Chapter 30 Advance Payment of Tax in Case of Capital Gains	679
Chapter 31 Issues relating to certain amendments made by the Finance (No. 2) Act, 2024	683
Appendix 1 Capital Gains Accounts Scheme, 1988	699
Appendix 2 Rural Agricultural Land	717
Appendix 3 Relevant Circulars and Notifications	749
Appendix 4 Relevant Forms	808
Appendix 5 Recent Judicial Decisions	814

About the Author

Dr. Girish Ahuja & Dr. Ravi Gupta

Dr. Girish Ahuja did his graduation and post-graduation from Shri Ram College of Commerce, Delhi and was a position holder. He was awarded a Ph.D. degree by Faculty of Management Studies (FMS), Delhi University. He is a Fellow of the Institute of Chartered Accountant of India (ICAI) and was a rank holder of both Intermediate and Final examinations of the Institute. He had been nominated by the Government of India as a member of the Task Force for redrafting the Income-tax Act and New Income-tax Law. He is also on the Board of Directors of many reputed companies and has a vast and rich experience in the field of finance and taxation. He has been nominated by the Government of Directors of UNITECH LTD with the approval of the Supreme Court to Board and was also been nominated by the Govt. of India as Independent Director of the Central Board of State Bank of India. Dr. Ahuja is a author of various books on Direct Taxation and he has addressed more than 5000 seminars organized by the ICAI, ICSI, ICWAI, Chambers of Commerce.

Dr. Ravi Gupta did his graduation and post-graduation from Shri Ram College of Commerce. Thereafter, he did LL.B. from Delhi University and MBA (Finance) from Faculty of Management Studies, Delhi. He has been awarded a Ph.D. degree in International Finance by the Delhi University. He had been a faculty member at Shri Ram College of Commerce (Delhi University). He is an advocate and leading consultant at Delhi NCR and also has vast practical experience in handling tax matters of trade and industry. He has been appointed by the Government of India as a member of the Committee consututed for Simplification of Income Tax Act. He is also a Central Council member of ICAI (Government of India Nominee) and on the Board of various reputed companies. He is a co-author of various books on Income-tax. He has addressed more than 3000 seminars on Direct Taxes organized by ICAI, Chambers of Commerce, Universities, etc.

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