Capital gains computation: shift from average-rate rebate to straight deduction under section 80T requires reassessment of affected returns. Finance Act, 1968 replaced the Section 114 rebate regime with Section 80T, converting relief on capital gains from an average-rate rebate to a straight ... Summary
Capital gains computation: shift from average-rate rebate to straight deduction under section 80T requires reassessment of affected returns.
Finance Act, 1968 replaced the Section 114 rebate regime with Section 80T, converting relief on capital gains from an average-rate rebate to a straight deduction; capital gains reduced by the Section 80T deduction are to be included in total income.
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