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Tag: section 54b

capital gain exemption : How to save capital gain legally

Capital gain exemption is one of the important points to go through while selling capital asset like land, building, plot etc. So instead of choosing way of tax evasion, Learn how to save capital gain legally. Capital gain exemptions available as per income tax act : Here is the summary table of exemptions: Section Capital gain On sale of New property  to claim exemption 54 Long term Residential house property House property 54EC Long term Any asset NHAI or REC bonds 54F Long term Asset other than residential house House property 54B Long term or short term Agricultural land...

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Capital gain on sale of agriculture land: 7 important points to know

Capital gain on sale of agriculture land is exempt if land is situated in rural area. Here, many inter related sectoins are covered to understand the topic. It is necessary to study section 2(14) -changes in definition of capital asset in financial bill, 2013, section 10 ( 37), section 45, section 54B, section 194LA. All these sections are covered in this article. I have presented theme in details for better understanding. 7 important points about capital gain on sale of agriculture land: Capital gain on agriculure land held as investment:  capital asset definition under section 2(14) and changes in...

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