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How to set off and carry forward Capital losses [AY 2018-19]

Have you ever come across any discount vouchers? If yes, then you can relate that with income tax losses. A discount voucher cannot be encashed, however, it can be used for purchasing selected goods or services. Similarly, under Income tax act, loss arising from an “income head” can be set of...

Capital Gain Tax on Sale of Equity Shares, LTCG [AY 2018-19]

In addition to our normal business, many of us invest in share market to earn passive income in form of dividend or profit on its sale. These investments are termed as “Capital Asset” for income tax purpose. Depending on the period of holding, these assets are divided into 2 parts: Short-Te...

Capital Gain: Sale Of Agricultural Land / Section 54B Exemption

An agricultural land may either be situated in a rural area or urban area. Tax implication will differ in both the cases. As per the definition u/s 2(14), an agricultural Land in a rural area is NOT a Capital Asset. Yes, you read that right! Income tax won’t be levied on the sale of a rural agr...

Capital gain under Compulsory Acquisition with Example [AY 2018-19]

In public interest, both the Central and state government acquires private land also known as a compulsory acquisition. For acquiring private land, governments are required to pay compensation and also rehabilitate and resettle the affected persons in India. A person needs to pay capital gain tax ...