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What Are the Tax Implications for Capital Gains on the Transfer of Property Under a Conditional Sale Agreement?

The transfer of land or property is a significant event for any taxpayer, and understanding the capital gains tax implications is essential. In cases where land or property is subject to an option or conditional sale agreement, the calculation

What is the Procedure for Computing Capital Gains in Cases Involving Slump Sales Under Complete Section 50B?

Slump sale refers to the transfer of a business as a whole, including all its assets and liabilities, without assigning specific values to individual assets or liabilities. Section 50B of the Income Tax Act, 1961 deals with the computation

How to Apply Indexed one Cost of Acquisition When Calculating A Long-Term Capital Gains (LTCG)

When it comes to calculating long-term capital gains (LTCG), understanding the concept of indexed cost of acquisition and indexed cost of improvement is essential. These factors play a crucial role in reducing the taxable capital gain, thereby minimizing the

How is capital gain calculated the complete under Section 48, and what deductions are available in the calculation?

Capital gains tax is an essential part of the income tax framework, impacting individuals and businesses who sell or transfer capital assets. Under Section 48 of the Income Tax Act, 1961, the calculation of capital gains is defined, and