Section 45 of the Income Tax Act-Capital Gains

Section 45

Section 45(1) of the Income Tax Act Any profits or gains deriving from the transfer of a capital asset effected in the previous year shall; save as otherwise provided in section 54, 54B, 54D, 54EA, 54EB, 54E, 54F, 54G and 54H; be chargeable to income tax under the head “Capital Gains”; shall be assumed to be the income of the PY in which the transfer took place.Section 45 Section 45 of the Income Tax Act-Capital Gains Section 45(1A) of the Income Tax Act Notwithstanding anything included in sub-section (1); where…

Read More