Transcription of TAX ON LONG-TERM CAPITAL GAINS - Income Tax …
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TAX ON LONG-TERM CAPITAL GAINS - Income Tax …
[As amended by Finance Act, 2018] TAX ON LONG-TERM CAPITAL GAINS Introduction gain arising on transfer of CAPITAL asset is charged to tax under the head CAPITAL GAINS . Income from CAPITAL GAINS is classified as Short Term CAPITAL GAINS and long Term CAPITAL GAINS . In this part you can gain knowledge about the provisions relating to tax on long Term CAPITAL GAINS . Meaning of CAPITAL GAINS Profits or GAINS arising from transfer of a CAPITAL asset are called CAPITAL GAINS and are charged to tax under the head CAPITAL GAINS . Meaning of CAPITAL Asset CAPITAL asset is defined to include: (a) Any kind of property held by an assessee, whether or not connected with business or profession of the assesse.
[As amended by Finance Act, 2018] TAX ON LONG-TERM CAPITAL GAINS Introduction Gain arising on transfer of capital asset is charged to tax under the head “Capital Gains”.
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