capital gain
This query is : Resolved
27 March 2009
As per sec. 45(1), profits or gains arising on transfer of a capital asset shall be chargeable under the head “Capital Gains”.
ANY GAIN ON TRANSFER OF CAPITAL ASSETS IS CAPITAL GAIN
Stress: Following are the essential conditions `to be satisfied to charge any income under the head “Capital Gains”:
a. There must be a capital asset.
b. The assessee transfers such capital asset.
c. There must be profit or gain (including negative profit or gain) on such transfer.
for transfer see section 2(47)
for capital assets see section 2(14)
that all i can say in brief
ANY GAIN ON TRANSFER OF CAPITAL ASSETS IS CAPITAL GAIN
Stress: Following are the essential conditions `to be satisfied to charge any income under the head “Capital Gains”:
a. There must be a capital asset.
b. The assessee transfers such capital asset.
c. There must be profit or gain (including negative profit or gain) on such transfer.
for transfer see section 2(47)
for capital assets see section 2(14)
that all i can say in brief
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
