Profit on sale of shares as LTCG instead of STCG – donation is ...

Shares Sale Profit Classified as Long-Term Capital Gains u/s 49(1) of Income Tax Act; Donations Viewed as Gifts.

August 6, 2014

Case Laws Income Tax AT

Profit on sale of shares as LTCG instead of STCG – donation is to be construed as a form of gift - Since the shares constitute a capital asset, it is but natural that on their transfer, the provisions of section 49(1) would be attracted - AT

View Source

← Previous Next →

Profit on sale of shares as LTCG instead of STCG – donation is ...

Shares Sale Profit Classified as Long-Term Capital Gains u/s 49(1) of Income Tax Act; Donations Viewed as Gifts.

August 6, 2014

Case Laws Income Tax AT

You may also like:

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Gain on sale of shares - accommodation entry or not - the income in question is a bonafide Long Term Capital Gain arising from the sale of shares and hence exempt from income tax

Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

Computation of capital gains - Non-resident - Long term capital Gain / loss on share transactions - Benefit of indexation - it cannot be disputed that if as per section...

Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Capital gains taxation streamlined with short-term gains on certain financial assets attracting 20% tax and long-term gains on all assets attracting 12.5% tax. Exemption...

ITAT determined the tax treatment of a property sale, characterizing it as a short-term capital gain under section 50. The tribunal held that the property remained a...

Correct head of income - business profit or Long Term Capital Gains - GPA was restricted to the extent of builder’s right at 73.33% of the land and that portion allotted...

Short term capital gain or business profit on sale of shares - Delivery based transaction should be treated as of the nature of investment transactions and profit...

LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

The case pertains to the exemption u/s 10(23G) for long-term capital gains arising from the purchase of shares for creating infrastructure facilities. The key points...

The ITAT held that u/s 10(38), only long term capital gain from sale of shares/securities is exempt, not the entire source. Citing Royal Calcutta Turf Club case, it...

Quick Updates: