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What You Need to Know About Capital Gains on Asset Transfers to Firms, AOPs, and LLPs Under Section 45(3)

The Income Tax Act, 1961 provides specific provisions to govern the taxation of capital gains arising from the transfer of capital assets. One of the situations where capital gains tax treatment becomes particularly important is when a capital asset

What judicial decisions clarify the treatment of capital gains in cases involving the transfer of assets by way of gift, inheritance, or corporate restructuring?

The treatment of capital gains arising from the transfer of assets can be complex, especially in cases involving gifts, inheritance, or corporate restructuring such as mergers or demergers. The Income Tax Act, 1961 provides certain exemptions and deferrals under

What are the tax implications for capital gains when an individual or entity transfers assets as part of a business or partnership dissolution?

The dissolution of a business or partnership can trigger several tax implications, especially with respect to capital gains. When assets are transferred during a business or partnership dissolution, the Income Tax Act, 1961 outlines specific provisions that affect the

How does the complete tax treatment differ for gains arising from shares held as stock-in-trade vs. those held as capital assets for investment?

In the world of capital gains taxation, the treatment of gains arising from the sale of shares is influenced by whether those shares are classified as stock-in-trade or capital assets. This classification plays a significant role in determining the

“Section 45 and Unlisted Shares: What You Need to Know About Capital Gains Tax and Holding

The taxation of capital gains from the sale of unlisted shares is governed by Section 45 of the Income Tax Act, 1961. Unlike listed shares, which are traded on stock exchanges, unlisted shares are privately held and are not

How do you distinguish between short-term and long-term capital assets under Section 2(42A) and Section 2(29AA)?

Capital gains taxation under the Income Tax Act is a significant aspect for taxpayers who have investments in capital assets like property, shares, and securities. The classification of capital assets into short-term and long-term is crucial in determining the

A Complete Discontinued Business Income: Tax Treatment and Compliance”

Introduction Employee welfare is an essential aspect of running a business, and some companies extend this welfare to include family planning expenses for employees. While promoting family planning initiatives is commendable, business owners often wonder whether such expenses are

“Understanding Tax on Rental Income from House Properties” A Complete Guidance

Introduction Rental income is a common source of income for many property owners. However, it is essential to understand the tax treatment of rental income under the Income Tax Act, 1961. While most rental income is taxed under the

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