Capital Gains

Question 0

Section 54B

Answer 0

Transfer of an agricultural land an purchase of an agricultural land

Question 1

Section 54

Answer 1

Transfer of residential house and purchase or construction of residential house

Question 2

Section 45

Answer 2

Scope and year of chargeability (Capital Gains)

Question 3

Section 45(1)

Answer 3

General provision

Question 4

Section 45(1A)

Answer 4

Receipts from insurance parties

Question 5

Section 45(2)

Answer 5

Conversion or treatment of a capital asset as stock in trade

Question 6

Section 45(2A)

Answer 6

Transfer of beneficial interest in securities

Question 7

Section 45(3)

Answer 7

Introduction of capital asset as capital contribution

Question 8

Section 45(4)

Answer 8

Distribution of capital asset on a firms dissolution

Question 9

Section 45(5)

Answer 9

Compensation on compulsory acquisition

Question 10

Section 46

Answer 10

Capital gains on distribution of assets by companies in liquidation …

Question 11

Section 46A

Answer 11

Capital gains on buyback etc. of shares

Question 12

Section 47

Answer 12

Transaction not regarded as transfer

Question 13

Section 2(1B)

Answer 13

Amalgamation

Question 14

Section 55

Answer 14

Cost of improvement , Cost of acquisition

Question 15

Section 50&50A

Answer 15

Computation of capital gains in case of depreciable asset

Question 16

Section 50A

Answer 16

Cost of acquisition in case of power sector assets

Question 17

Section 50B

Answer 17

Capital gains in respect of slump sale

Question 18

Section 50C

Answer 18

Special provision for full value of consideration in certain cases

Question 19

Section 50D

Answer 19

Fair market value of the capital asset on the date of transfer to be taken as sale consideration , in cases where consideration is not determinable

Question 20

Section 51

Answer 20

Advance money received

Question 21

Section 54

Answer 21

Capital gains on sale of residential house

Question 22

Section 54B

Answer 22

Capital gains on transfer of agricultural land

Question 23

Section 54D

Answer 23

Capital Gains on transfer by way of compulsory acquisition of land and building

Question 24

Section 54EC

Answer 24

Capital Gains not chargeable on investment in certain bonds Maximum 50,00,000 Should be invested before due date....

Question 25

Section 54F

Answer 25

Capital gains in case of investment in residential house

Question 26

Section 54G

Answer 26

Capital gains for shifting of industrial undertaking from urban areas

Question 27

Section 54GA

Answer 27

Exemption of capital gains on transfer of certain capital assets in case of shifting of an industrial undertaking from an urban area to any SEZ

Question 28

Section 54GB

Answer 28

Exemption of long-term capital gains on transfer of residential property if the sale consideration is used for subscription in equity of a new start-up manufacturing SME company to be used for purchase of new plant and machinery

Question 29

Capital Gains Account Scheme (CGAS)

Answer 29

Under sections 54, 54B, 54D, 54F, 54G and 54GA

Question 30

Section 54H

Answer 30

Extension of time for acquiring new asset or depositing or investing amount of Capital Gain

Question 31

55AA

Answer 31

Reference to Valuation Officer

Question 32

Section 111A

Answer 32

Short term capital gains tax in respect of equity shares/ units of an equity oriented fund

Question 33

Section 112

Answer 33

Tax on long-term capital gains

Question 34

Section 10(38)

Answer 34

Exemption of long term capital gains on sale of equity shares/ Units of an equity oriented fund

Question 35

Section 10(37)

Answer 35

When urban agricultural land is compulsorily acquired by any law and compensation is fixed by CG(not SG) or RBI , capital gain on such acquisition is exempt

Question 36

Section 47(xvi)

Answer 36

Reverse mortgages is not a transfer so no capital gains However if there is transfer of ownership for the purpose of recovering loan attracts capital gain...

Question 36

Section 10(43)

Answer 36

Amount received by senior citizen as a loan either lump sum or instalment in reverse mortgage is exempt...

Question 36

Section 72A(6A)

Answer 36

When a company is converted int LLP fulfilling proviso 47(xiiib) Accumulated depreciation and losses OF COMPANY Can be claimed BY LLP

Question 36

Section 47(xiiib)

Answer 36

Shareholder of company becoming partners of LLP in the same proposition as their shareholding in the company Aggregate profit sharing ratio of the partner should not be less than 50% any time during 5 years If entity fails to fulfil the condition business loss availed will be charged as income...