Web“cost”, in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset; “long-term specified asset” means a unit or units, issued before 1.4.2024, of such fund as may be notified by the Central Government in this ... Web9 de mar. de 2024 · March 9, 2024. 0. 88. Section 54EC of the Income Tax Act, 1961 is a provision that provides tax relief to taxpayers who have made long-term capital gains from the sale of assets such as property or shares. This section allows for the exemption of capital gains tax if the gains are invested in specified bonds within a certain period of time.

Capital Gains Exemption – Section 54EC - TaxGuru

WebSection 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax. At the time of sale of any Long Term Capital Asset, the Gains are usually very large and are taxed @ 20%. The Resultant Figure to be paid as Tax usually comes out to be a very large amount liable to be paid as Long Term Capital Gain Tax. WebSection 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax. At the time of sale of any Long Term Capital Asset, the Gains are usually very large and are taxed @ 20%. … identity v steam

Capital Gains Income Tax Guide EZTax®

Assuming that an immovable property is sold at Rs. 70 lakh after a long term period of 42 months from the date of acquisition. The indexed cost of acquisition is 46 lakh and indexed cost of improvement is Rs. 10 lakh. Calculate the capital gain that is taxable after claiming exemption in below two cases: i. Rs. 14 lakh … Ver mais These bonds are not listed in the stock exchange. Hence you can buy them by the issuer directly either in a demat form or a physical form. Let us understand how to invest in the above mentioned bonds: 1. Step 1: Download the … Ver mais Web18 de out. de 2024 · Section 54EC of the Income Tax Act 1961, exempts a capital gain from any tax implication where “the capital gain arises from the transfer of a long-term capital asset and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified asset ... Web12 de mai. de 2024 · Section 2(42A) Assets classified as Short ... It is important to note that the benefit of indexation is available only to specified long-term capital assets. ... Section 54 Section 54F Section 54EC; identity vs positionality