Understanding section 49 of the Income Tax Act, 1961 : Cost with reference to certain modes of acquisition Section 49 of the Income Tax Act, 1961 outlines the rules for determining the cost of acquisition of a capital asset in various situations. Let’s break down these provisions in simpler terms: Section 49: Determination of Cost […]
Notwithstanding anything contained in clause (42A) of section 2 or section 48, where the capital asset is a unit of a Specified Mutual Fund acquired on or after the 1st day of April, 2023 or a Market Linked Debenture, the full value of consideration received or accruing as a result of the transfer or redemption or maturity of
The income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :— (i) expenditure incurred wholly and exclusively in connection with such transfer; (ii) the cost of acquisition of
(1) Any profits or gains arising from the slump sale effected in the previous year shall be chargeable to income-tax as capital gains arising from the transfer of long-term capital assets and shall be deemed to be the income of the previous year in which the transfer took place: Provided that any profits or gains arising
(1) Where at any time before the expiry of a period of eight years from the date of the transfer of a capital asset referred to in clause (iv) or, as the case may be, clause (v) of section 47,— (i) such capital asset is converted by the transferee company into, or is treated by it
(1) Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government (hereafter in this section referred to as the “stamp valuation authority”) for
(1) Notwithstanding anything to the contrary contained in sections 28 to 43A, in the case of an assessee, being a non-resident, engaged in the business of operation of ships, a sum equal to seven and a half per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains
(1) Every company shall prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of its branch office or offices, if any, and explain the transactions effected both at the registered office and its
As part of AazadiKaAmritMahostav, Union Cabinet Minister for Fisheries, Animal husbandry and Dairying, Shri Parshottam Rupala will officially launch the Nationwide AHDF KCC Campaign for 2023-24 through virtual mode on 03rd May 2023 at 9:30 AM and interacted with beneficiaries of AHDF-KCC connected through CSC and State Animal Husbandry Department. This step will further help
RVNL was incorporated as PSU on 24th January, 2003, with the twin objectives of implementation of projects relating to creation and augmentation of capacities of rail infrastructure on fast track basis and raising of extra budgetary resources for SPV projects. The company began its operation in 2005 with the appointment of Board of Directors. The company
B K Goyal & Co LLP
Chartered Accountants
support@cabkgoyal.com
9971782649
Ph: 9971782649
E: support@cabkgoyal.com
