- The document discusses capital gains tax in India, including definitions of capital assets and capital gains.
- Profits from the transfer of a capital asset are called capital gains and taxed under the head "Capital Gains".
- Capital gains are classified as short-term capital gains (assets held less than 36 months) or long-term capital gains (assets held more than 36 months).
- The period for classifying gains from certain listed securities is 12 months instead of 36 months.
Set-off and carry forward of losses:
Contents:
Set-off of Losses
Inter Head Adjustments Exceptions
Carry Forward of Losses
Mode of Set-off & Carry Forward
InterSource Adjustment (Sec 70)
Inter Head Adjustment (SEC 71)
Carry Forward & Set off of Speculation Loss
Carry Forward & Set-off of Speculation Loss
Carry forward of unabsorbed Depreciation (Sec 32(2))
Carry forward & set-off of loss from the activity of owning & maintaining racehorses (sec 74a)
Order of set-off of Business Loss
Set-off and carry forward of losses:
Contents:
Set-off of Losses
Inter Head Adjustments Exceptions
Carry Forward of Losses
Mode of Set-off & Carry Forward
InterSource Adjustment (Sec 70)
Inter Head Adjustment (SEC 71)
Carry Forward & Set off of Speculation Loss
Carry Forward & Set-off of Speculation Loss
Carry forward of unabsorbed Depreciation (Sec 32(2))
Carry forward & set-off of loss from the activity of owning & maintaining racehorses (sec 74a)
Order of set-off of Business Loss
FINANICIAL MARKETING Ansh_sharma is a documen on financial market management.pdfgigantamaxcharizad20
That is why I am not free now u see me in the hospital and uske niche bhi nahi hai to lose u looser me know if you are not coming to the class 11 I am not free to contact you
Income from capital gains | income tax| direct taxNaveenRitti1
Theoretical explained
Income from capital gains
Format for calculations of short term capital gains
Format for calculations of long term capital gains
Indexed cost of acquisition
Indexed cost of improvement
Income tax
Direct tax
U.S. Gandhi Budget 2015 - 2016 AnalysisKunal Gandhi
Rarely has there been a budget as highly anticipated as this one.
Coming on the heels of the defeat of the ruling BJP in the recent Delhi elections, there were expectations that the original ‘Maximum governance, minimum government’ model would give place to a more populist agenda.
India Inc on the other hand expected improving the ease of doing business and a more rational tax regime.
While Corporate tax was lowered and Wealth tax was abolished, a major theme in the budget was creating a social security framework. Targeting a GDP growth rate of 8 – 8.5%, the budget plans to keep the deficit to within 3.9% of GDP by laying special emphasis on infrastructure development with a major spend budgeted on Road building.
All in all, though there were no big bang reforms, the budget 2015 was a good mix of Pragmatism and Populism. We are optimistic about growth and believe a lot more reforms are expected in the coming 3 years.
Vertical Eye Financial Solutions is a Partnership firm which is into Taxation, Consultancy and Financial Management services catering to a wide variety of clients throughout India since 2008.
We provide best services Like Tax Consultant, Insurance and Investment Consultant and Property Related Services Provider in Vadodara.
Calculate LTCG & STCG Tax on Property in India for Capital Gains.pdfyamunaNMH
Calculate LTCG & STCG Tax on Property- Any profit or gain that results from the sale of a “capital asset” is referred to as a capital gain. Real estate, stock, mutual funds, jewellery, trademarks, and other investments. are considered capital assets. Since the gain or profit is viewed as “income,” you must pay taxes on that particular amount in the same year that the capital asset was transferred.
FINANICIAL MARKETING Ansh_sharma is a documen on financial market management.pdfgigantamaxcharizad20
That is why I am not free now u see me in the hospital and uske niche bhi nahi hai to lose u looser me know if you are not coming to the class 11 I am not free to contact you
Income from capital gains | income tax| direct taxNaveenRitti1
Theoretical explained
Income from capital gains
Format for calculations of short term capital gains
Format for calculations of long term capital gains
Indexed cost of acquisition
Indexed cost of improvement
Income tax
Direct tax
U.S. Gandhi Budget 2015 - 2016 AnalysisKunal Gandhi
Rarely has there been a budget as highly anticipated as this one.
Coming on the heels of the defeat of the ruling BJP in the recent Delhi elections, there were expectations that the original ‘Maximum governance, minimum government’ model would give place to a more populist agenda.
India Inc on the other hand expected improving the ease of doing business and a more rational tax regime.
While Corporate tax was lowered and Wealth tax was abolished, a major theme in the budget was creating a social security framework. Targeting a GDP growth rate of 8 – 8.5%, the budget plans to keep the deficit to within 3.9% of GDP by laying special emphasis on infrastructure development with a major spend budgeted on Road building.
All in all, though there were no big bang reforms, the budget 2015 was a good mix of Pragmatism and Populism. We are optimistic about growth and believe a lot more reforms are expected in the coming 3 years.
Vertical Eye Financial Solutions is a Partnership firm which is into Taxation, Consultancy and Financial Management services catering to a wide variety of clients throughout India since 2008.
We provide best services Like Tax Consultant, Insurance and Investment Consultant and Property Related Services Provider in Vadodara.
Calculate LTCG & STCG Tax on Property in India for Capital Gains.pdfyamunaNMH
Calculate LTCG & STCG Tax on Property- Any profit or gain that results from the sale of a “capital asset” is referred to as a capital gain. Real estate, stock, mutual funds, jewellery, trademarks, and other investments. are considered capital assets. Since the gain or profit is viewed as “income,” you must pay taxes on that particular amount in the same year that the capital asset was transferred.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
1. CAPITAL GAIN
Dr. NGPASC
COIMBATORE | INDIA
Dr. N.G.P. ARTS AND SCIENCE COLLEGE
(An Autonomous Institution, Affiliated to Bharathiar University, Coimbatore)
Approved by Government of Tamil Nadu and Accredited by NAAC with 'A' Grade (2nd Cycle)
Dr. N.G.P.- Kalapatti Road, Coimbatore-641048, Tamil Nadu, India
Web: www.drngpasc.ac.in | Email: info@drngpasc.ac.in | Phone: +91-422-2369100
3. Dr. NGPASC
COIMBATORE | INDIA
Capital Gain
• Profits or gains arising from transfer of a
capital asset are called “Capital Gains” and
are charged to tax under the head "Capital
Gains".
4. Dr. NGPASC
COIMBATORE | INDIA
Capital Asset
• Any kind of property held by an assesse,
whether or not connected with business or
profession of the assessee.
• Any securities held by a FII which has invested
in such securities in accordance with the
regulations made under the SEBI Act, 1992.
5. Dr. NGPASC
COIMBATORE | INDIA
Items not included in Capital Asset
• Stock in Trade: Any stock-in-trade (other than securities referred to in (b) above), consumable stores or
raw materials held for the purposes of his business or profession.
• Personal effects, that is, movable property (including wearing apparel and furniture) held for personal
use by the taxpayer or any member of his family dependent on him, but excludes.
– Jewellery
• Ornaments made of gold, silver, platinum or any other precious metal or any alloy containing
one or more of such precious metals, whether or not containing any precious or semi-
precious stones, and whether or not worked or sewn into any wearing apparel.
• Precious or semi-precious stones, whether or not set in any furniture, utensil or other article
or worked or sewn into any wearing apparel.
– Archaeological collections
– Drawings
– Paintings
– Sculptures
– Any work of art
6. Dr. NGPASC
COIMBATORE | INDIA
Items not included in Capital Asset
• Rural Agricultural Land : Agricultural Land in India, not being a land situated:
– Within jurisdiction of municipality, notified area committee, town area committee,
cantonment board and which have a population of not less than 10,000.
– Within range of following distance measured aerially from the local limits of any
municipality or cantonment board:
• Not being more than 2 KMs, if population of such area is more than 10,000 but
not exceeding 1 lakh
• Not being more than 6 KMs, if population of such area is more than 1 lakh but
not exceeding 10 lakhs, or
• Not being more than 8 KMs, if population of such area is more than 10 lakhs.
Population is to be considered according to the figures of last preceding census
of which relevant figures have been published before the first day of the year.
7. Dr. NGPASC
COIMBATORE | INDIA
Items not included in Capital Asset
• Specified Gold Bonds : 61/2 per cent Gold Bonds,1977 or
7 per cent Gold Bonds, 1980 or National Defence Gold
Bonds, 1980 issued by the Central Government
• Special Bearer Bonds, 1991
• Gold Deposit Bonds issued under the Gold Deposit
Scheme 1999 or deposit certificates issued under the
Gold Monetization Scheme, 2015
• Sovereign Gold Bond Scheme issued by RBI are 100% tax
free at the time of redemption.
9. Dr. NGPASC
COIMBATORE | INDIA
Capital Gain
• Income from capital gains is classified as
"Short Term Capital Gains" and "Long Term
Capital Gains".
10. Dr. NGPASC
COIMBATORE | INDIA
Short Term Capital Gain
• In respect of certain assets like shares (equity or
preference) which are listed in a recognized stock
exchange in India (listing of shares is not mandatory
if transfer of such shares took place on or before July
10, 2014), units of equity oriented mutual funds,
listed securities like debentures and Government
securities, Units of UTI and Zero Coupon Bonds, the
period of holding to be considered is 12
months instead of 36 months.
11. Dr. NGPASC
COIMBATORE | INDIA
Short Term Capital Gain
• Period of holding to be considered as 24
months instead of 36 months in case of unlisted
shares of a company or an immovable property being
land or building or both.
• Any other capital asset held by the taxpayer for a
period of not more than 36 months immediately
preceding the date of its transfer will be treated as
short-term capital asset.
12. Dr. NGPASC
COIMBATORE | INDIA
Long Term Capital Gain
• Any capital asset held by the taxpayer for
a period of more than 36
months immediately preceding the date
of its transfer will be treated as long-term
capital asset.
13. Dr. NGPASC
COIMBATORE | INDIA
Long Term Capital Gain
• In respect of certain assets like shares (equity or
preference) which are listed in a recognized stock
exchange in India (listing of shares is not mandatory
if transfer of such shares took place on or before July
10, 2014), units of equity oriented mutual funds,
listed securities like debentures and Government
securities, Units of UTI and Zero Coupon Bonds, the
period of holding to be considered is 12 months
instead of 36 months.
14. Dr. NGPASC
COIMBATORE | INDIA
Long Term Capital Gain
• In case of unlisted shares, period of holding is
to be considered as 24 months instead of 36
months.
• An immovable property being land or building
or both, period of holding is to be considered
as 24 months from AY 2018-19. Before AY
2018-19, the holding period is 36 months.
15. Dr. NGPASC
COIMBATORE | INDIA
Classification
Listed Shares
Unlisted Shares &
Immovable
property
Other Capital
Asset
STCG LTCG
< 12 M
> 36 M< 36 M
> 24 M< 24 M
> 12 M
17. Dr. NGPASC
COIMBATORE | INDIA
Short Term Capital Gain
Particulars Rs.
Full value of consideration (i.e., Sales consideration of
asset)
XXXXX
Less: Expenditure incurred wholly and exclusively in
connection with transfer of capital asset (E.g., brokerage,
commission, etc.)
(XXXXX)
Net sale consideration XXXXX
Less: Cost of acquisition (i.e. Purchased cost of asset) (XXXXX)
Less: Cost of improvement, if any (XXXXX)
Short-Term Capital Gain XXXXX
18. Dr. NGPASC
COIMBATORE | INDIA
Long Term Capital Gain
Particulars Rs.
Full value of consideration (i.e., Sales consideration of asset) XXXXX
Less: Expenditure incurred wholly and exclusively in
connection with transfer of capital asset (E.g., brokerage,
commission, etc.)
(XXXXX)
Net sale consideration XXXXX
Less: Indexed cost of acquisition (i.e. Purchased cost of asset
with indexation )
(XXXXX)
Less: Indexed cost of improvement, if any (*) (XXXXX)
Long-Term Capital Gain XXXXX
20. Dr. NGPASC
COIMBATORE | INDIA
Indexation
• Indexation is the process that takes into
account inflation from the time taxpayer
bought the asset to the time taxpayer sell it.
The way it works is that it allows taxpayer to
inflate the purchase price of the asset to take
into account the impact of inflation. The end
result is that you get the benefit of lowering
your tax liability.
21. Dr. NGPASC
COIMBATORE | INDIA
Indexation
Formula for calculating the indexation:
Cost of acquisition X Cost inflation index of the
year of transfer of capital asset
Cost inflation index of the year of acquisition
29. Dr. NGPASC
COIMBATORE | INDIA
Indexed cost
1. Cost of acquisition in 2003-2004 Rs 1,20,000.
Find out the indexed cost if sold in 2019-
2020.
Solution
Indexed cost = (1,20,000*289)/109
= 3,18,165
30. Dr. NGPASC
COIMBATORE | INDIA
Indexed cost
2. Find out the indexed cost of following long term
capital assets if they are sold during the previous year
2019-2020.
31. Dr. NGPASC
COIMBATORE | INDIA
Solution
1. Jewellery
Indexed cost = (80000*289)/113
= 2,04,602
2. Bonds
No Indexing
34. Dr. NGPASC
COIMBATORE | INDIA
Computation of capital gain
Particulars ₹ ₹
Sale Price 15,00,000
Less: Cost of Acquisition 4,50,000
(-) Advanced Money Forfeited 20,000
Net Cost 4,30,000
Indexed Cost 430000*289/100 12,42,700
Indexed cost of improvement 50000*289/122 1,18,443 13,61,143
LTCG 1,38,857