Tax Connect
madhuvridhi
Tag: capital gain
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Cost of Real Estate bought before 2001 – Capital Gain Calculation – Budget 2024
I-T dept clarifies acquisition cost of real estate bought before 2001 for LTCG calculations
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Date of possession must be considered to determine the eligibility of a tax benefit under section 54 of the Income-tax (I-T) Act – ITAT
in case of an under-construction property, it is the date of possession that must be considered to determine the eligibility of a tax benefit under section 54 of the Income-tax (I-T) Act.
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Tax implications of profits in stock trading and future and options
If you are an intraday trader and have made significant profits in a financial year apart from your salary, then you will have to pay taxes. The profits from F&O trading are treated as business income (non-speculative) and taxed per your tax slab. If you buy a share today and sell it within one year,…
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It isn’t mandatory for assessee to set off business loss against capital gains as per sec. 71
As per provisions of section 71, there is an option to assessee to set off business loss against capital gains, however, it is not mandatory to do so
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Benefit of deduction under section 54F in case of construction of residential house
Benefit of deduction under section 54F in case of construction of residential house, is available only when construction is completed within a period of three years after date of transfer of long-term capital asset and, therefore, where construction took place prior to date of transfer, conditions of section 54F were not fulfilled and, consequently, assessee’s…
