TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Sub-section Added to Section 47A: Gains from Capital Asset Transfers Now Taxable if Conditions Breached.</h1> Section 47A of the Income-tax Act is amended to include a new sub-section (4), effective from April 1, 2011. This provision states that if the conditions in the proviso to clause (xiiib) of section 47 are not met, the profits or gains from the transfer of capital assets or shares, which were not taxed under section 45 due to those conditions, will be considered taxable income for the successor limited liability partnership or the shareholder of the predecessor company for the year the conditions are breached.
TaxTMI 
TaxTMI 
