https://www.taxtmi.com/acts?id=3601 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. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 18:05:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3601 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. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3601