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 9 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