Chargeability - Section 45

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...., 54G, and 54H. Exception to charging section Section - 45(1) Exceptions to the rule that capital gain shall be chargeable to tax in the previous year in which transfer took place: * Section 45(1A): Capital Gains on insurance claim on damage or destruction of capital assets is taxable in the year of receipt of claim from the insurance company although no asset has been actually transferred in ....