2024 Proviso to section 48 of income tax act

Proviso to section 48 of income tax act

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August undefined, 2024

Webb7 juni 2024 · Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You … WebbIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI BEFORE SH. H. S. SIDHU, ... that assessee had claimed interest of Rs.1,48,94,552/- of which ... also held that second proviso to Section 40(a)(ia) of the Act to be declaratory and curative and it has retrospective effect from 01.04.2005.

Section 112 of Income Tax Act: How to calculate income tax

WebbIn the case of companies (except such domestic companies whose income is chargeable to tax under section 115BAA or 115BAB of the Income -Tax Act) if income exceeds Rs. 1 crore but does not exceed Rs 10 crores, then the tax payable would be increased by a surcharge @ 7% in case of domestic companies and @ 2% in case of foreign companies … Webb11 apr. 2024 · This notification to notify the Cost Inflation Index (CII) for FY 2024-24 (AY 2024-25) is notified under clause (v) of the Explanation to section 48 of the Income-tax … dr hanes in florence al

First Proviso to Section 48 Explained! Applicability, Benefits & more

Webb29 mars 2024 · Rule – 115A, Rate of exchange for conversion of rupees into foreign currency and reconversion of foreign currency into rupees for the purpose of computation of capital gains under the proviso to clause (a) of sub-section (1) of section 48 of the Income-tax Act, Published by Law@HostBooks at March 29, 2024 115A. WebbThe Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. WebbCapital Gains In Case Of Non-Residents - FIRST PROVISO TO SECTION 48 AND RULE 115A - Income Tax - Ready Reckoner - Income Tax Extract ..... as initially utilized in the purchase of such shares or debentures. The capital gain so computed in the foreign currency shall be reconverted into Indian currency. dr. ha newport beach

Income Tax Department

Webb10 apr. 2024 · 1) What is Section 48 of the income tax act , 1961 , whether it is a charging section of the head Capital Gains and if not , then what’s the difference between section … Webb11 apr. 2024 · Agriculture income is not taxed under any section of the Income Tax Act in India. As per Section 10 (1) of the Income Tax Act, 1961, agriculture income is exempt from income tax. This means that if a person earns income solely from agricultural activities, they do not have to pay income tax on that income. However, it is important to … dr haneline lawrenceburg tnWebb5 juni 2024 · Section 48 of Income Tax Act 1961 – Example. Alright India issued rupee denominated bonds to Alpha Inc. for Rs 20,000 which were subscribed in USD.Exchange … enter the fat dragon subtitle

"Webbenactment of Income Tax Act, 1962. Thus, the first condition to fall within the scope of proviso to section 13(1)(c)(ii) of the Act is satisfied. 8. As regards second condition i.e. the benefit to be granted to the assessee or the person referred to … " - Proviso to section 48 of income tax act

Proviso to section 48 of income tax act

Right to use radio frequency spectrum leviable to service tax only …

Webb11 apr. 2024 · Also proviso to section 48 i.e. Mode of computation of capital gain states the mode when such cost inflation index needs to be used and when it will not be used as “that where long-term capital gain arises from the transfer of a long-term capital asset, other than capital gain arising to a non-resident from the transfer of shares in, or …

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Webbcost of acquisition of the asset. Whereas in the case of long-term capital gain, the capital gain shall be the excess of the full value of consideration over the aggregate of the following three amounts: Expenses of transfer; Indexed cost of acquisition of the asset; Indexed cost of improvement. From capital gain, computed as above, certain ... Webb13 sep. 2024 · [Proviso 3 to section 48]. (ii) Transfer of Soverign Gold Bond issued by RBI under the Soverign Gold Bond Scheme,2015. (iii) Transfer of shares in or debentures of an Indian Company by a non-resident assessee [Proviso 2 to section 48]. (iv) Transfer of an undertaking or division (assets etc.) in slump sale [section 50 B].

Webb27 apr. 2024 · Section provision to section 50C(1) provides that the provision of first proviso to section 50C(1) shall apply only in case where the amount of consideration or … Webb14 apr. 2024 · Delhi High Court held that right to use radio frequency spectrum or its subsequent transfer covered under Clause (j) of Section 66E which was effective from 14.05.2016. Accordingly, compensation received during Financial Year 2015-2016 not leviable to service tax. Facts- Mahanagar Telecom Nigam Ltd. (MTNL) – a Government …

WebbSection, act Mar. 14, 1900, ch. 41, §13, ... Effective July 1, 1935, the permanent appropriation provided for in former section 547 of this title was repealed by act June 26, 1934, ch. 756, §2, 48 Stat. 1226, such act authorizing in ... that taxes measured by income or receipts or other "doing business" taxes in states where depositories do ... Webb48. 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 …

WebbAmendment of section 48. 18. In section 48 of the Income-tax Act, after the second proviso, the following proviso shall be inserted, namely:— "Provided also that nothing contained in the first and second provisos shall apply to the capital gains arising from the transfer of a long-term capital asset being an equity share in a company or a unit of an …

Webb17 okt. 2007 · The second proviso to section 48 is only a mode of computation of capital gains. The crucial words relied upon by the revenue cannot be construed as the words of exclusion of a category of assessees, i.e., non-residents … dr haney cardiologyWebb10 okt. 2013 · • The proviso to Section 112(1) of the Act does not state that an assessee, who avails benefits of the first proviso to Section 48, is not entitled to benefit of lower rate of tax. • The said benefit cannot be denied because the second proviso to … enter the fist and the golden fleecingWebbFinance 9 Amendment of section 5 4. The Income Tax Act 1967, which is referred to as the “principal Act” in this Chapter, is amended in subsection 5(1a) by inserting after the words “109d,” the words “109da in respect of a non-resident unit holder other than an individual,”. enter the following code at amazon.comWebb1 jan. 2024 · It needs to be determined as there are specific tax treatments for securities falling under section 111A, 112 and 112A of the Income Tax Act, 1961 which have been discussed in detail as under. Nature of security means whether the security is a share, option, debt instrument or any other security by whatever name called. dr hane orthodontistWebb23 feb. 2024 · ‘Slump sale’ meaning, pertinent available Section 50B of the Income Tax Act, considers the following important aspects : – There is a transfer of one instead more undertaking The send may be by any means (for cash consideration or through to exchange of shares/ misc form of consideration) dr haney dds covinaWebbIn section 48 of the Income-tax Act, after the second proviso, the following proviso shall be inserted, namely:— " Provided also that nothing contained in the first and second … dr haney chicagoWebb5 juni 2024 · As per third proviso to Section 48, the long-term capital gains referred to in Section 112A of Income Tax Act will be computed without giving effect to the first and … enter the format for entries