Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Capital gains: transfers and specified receipts are chargeable as income in the previous year of transfer or receipt. Profits or gains from transfer of a capital asset are chargeable to income-tax under the head Capital gains and deemed income of the previous year in ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Capital gains: transfers and specified receipts are chargeable as income in the previous year of transfer or receipt.
Profits or gains from transfer of a capital asset are chargeable to income-tax under the head Capital gains and deemed income of the previous year in which the transfer took place. Specific receipts-insurance payments for destruction or damage, amounts under non-exempt unit-linked policies, distributions on reconstitution, compulsory acquisition awards and enhancements, and specified real-estate project receipts-are treated as capital gains in the year of receipt, with valuation and computation governed by special deeming and prescribed rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.