The capital gains so compu-ted are then charged to tax at applicable rates (20%). Any gain on sale of a capital asset other than a residential property shall be exempt under Section 54F, in full, if the entire sale proceeds
To claim tax exemption on capital gains arising from transfer of residential property, taxpayer has to invest capital gains either for purchase of another residential house property within one year before or two years after d
Capital assets includes jewellery and sale of jewellery will be subject to tax under the head “Income from capital gains”. The gain on jewellery sales are taxed as long term or short term capital gains depending on the ho
TAXABILITY of an individual in India is based on the source of income as well as residential status. Residential status is determined on the basis of one’s physical presence in India during the financial year gone by.