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>Capital gains tax treatment for various receipts and transfers including insurance, asset conversion, beneficial interests, firm contributions, and compulsory acquisition</h1> Any profits or gains from transfer of a capital asset in the previous year are taxable as 'Capital gains' unless exempted. Special rules treat insurance proceeds for asset damage, certain unit-linked insurance receipts, conversion of assets to stock-in-trade, transfers of beneficial interests in securities (FIFO for cost/holding), contributions to firms, and specified receipts on reconstitution (income computed by formula) as capital gains in the year received or relevant event occurs. Enhanced compensation on compulsory acquisition is taxed when received; land/building transfers under specified development agreements are taxed on issue of completion certificate; specific provisions apply to repurchase of certain units.
TaxTMI 
TaxTMI 
