capital asset

Adjust Capital Gains Against Basic Exemption Limit to Reduce Income Tax 2 min read

• Income Tax

Adjust Capital Gains Against Basic Exemption Limit to Reduce Income Tax

Diksha Garg 4 years ago

It is necessary to understand the basic terms related to income tax: What is Capital Gain? The Excess income from the sale or exchange of... Read More

Capital Gain in Conversion of Capital Asset into Stock in Trade 2 min read

• Income Tax

Capital Gain in Conversion of Capital Asset into Stock in Trade

Diksha Garg 4 years ago

According to Section 45(2) of the IT Act, when an assessee converts a capital asset into stock-in-trade of his business, it is considered as a... Read More

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated 3 min read

• Income Tax

An agricultural land should be within the distance of 8 Kms. from the local limit of the municipality but not from the boundary of the village wherein such land is situated

Manager 10 years ago

The ITAT, Delhi in the case of Assistant Commissioner of Income Tax vs. Vijay Singh Kadan, Legal Heir of Late Shri Randhir Singh Kadan, 2014... Read More