Computation of capital gains -Treating ‘Government Securities’ ...

Clarification on Tax Implications for Government Securities u/s 48 of Income Tax Act: Bonds vs. Debentures.

September 22, 2020

Case Laws Income Tax AT

Computation of capital gains -Treating ‘Government Securities’ as Bonds or Debentures for the purpose of the third proviso (now fourth proviso) to section 48 - Just because there is fixed returning income, it cannot be concluded that on sale of such asset no indexation would be granted of the asset is a long term capital asset. - AT

View Source

← Previous Next →

Computation of capital gains -Treating ‘Government Securities’ ...

Clarification on Tax Implications for Government Securities u/s 48 of Income Tax Act: Bonds vs. Debentures.

September 22, 2020

Case Laws Income Tax AT

You may also like:

Indexation benefit on capital gains u/s.48 - From the plain reading of 3rd proviso section 48 of I.T. Act, government securities are not excluded for indexation benefit...

Clarification regarding taxability of supply of securities under Securities Lending Scheme, 1997

The ITAT dismissed the appellant's claim for concessional tax rate of 10% under section 112A on long-term capital gains (LTCG) arising from redemption of Market Linked...

Capital gain vs Business income - The income from share transactions has been rightly assessed as business income, however, Security Transaction tax (STT) has to be...

Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

The Central Government has specified the Ten Year Zero Coupon Bond of Power Finance Corporation Ltd. as a zero coupon bond under section 2(48) of the Income-tax Act,...

Income from other source OR Capital gain - Correct head of income - relinquishing the right acquired under the Agreement by the Assessee - income from relinquishing...

The Central Government has notified 'West Bengal Transport Workers' Social Security Scheme' (PAN AAALW0133G) for exemption from specified income u/s 10(46) of the Income...

Clarification in respect of residency under section 6 of the Income-tax Act, 1961 - Circular

Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961

The Securities and Exchange Board of India (SEBI) has amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations,...

Clarifications on the Income Declaration Scheme, 2016 - Another set of clarification and FAQs

Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P), a body constituted by State Government of Karnataka, is exempted from income tax u/s 10(46) of...

Reopening of assessment - determination of the 'income chargeable to tax' - The amount of “capital gain” is to be considered or the “entire sale consideration” to be...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Quick Updates: