Answers On Topic: Capital Gains
  Clarification on escapement of income
An Assessee invested Rs.25 Lacs in Penny Stock in Oct 2015 & sold the same for Rs 65 Lakhs in Jan 2016. He showed STCG of Rs 40 Lacs in his ROI in A.Y 2016 -17 paid 15 % tax on STCG alongwith other income. Case was reopened, the AO made the addition Rs. 65 Lacs u/s 68 which he received from sale of shares. My question is whether the escaped income will be treated Rs.25 Lacs as assessee has already disclosed Rs.40 Lacs under STCG or Rs.65 Lacs as assessed by the AO. If it is Rs.25 Lacs then…


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  TAXABILITY OF CAPITAL GAINS ARISING OUTSIDE INDIA
For assessment year 2023-24, a resident assessee, an individual,  has capital gains on sale of shares of companies registered in Singapore.  All investments were made by him when he was in Singapore in Singapore Dollars in 2014.  These shares were sold in financial year 2022-23 and proceeds were received in Singapore dollars in Singapore and were deposited in bank account in Singapore. Since for A Y 2023-24 he is a resident and ordinarily resident under Income tax Act, he is required to show capital gain/loss arising from the sale of those shares.  Queries are (a) whether the gains/losses can be…


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  50D
can AO reduce share valuation of unquoted shares sod u/s 50D vis a vi s one adopted by Assessee and deny 54F to that extent  ?


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  54F.Capital gains- Investment in a residential house –
gift of 2nd home to a relative is allowed ? before selling a plot in open mkt  with LTCG  u/s 54F on plot sale ?


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  proceeds of Sale of shares of unquoted private limited company
ITO added back the entire sale proceeds of the equity shares of unlisted shares of a private limited company. Transaction made during FY 2013-14. Those shares were purchased at almost the same time of sale. A nominal gain arises and added in to other income.


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  Capital Gain U/SEc. 45(1)
1.The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. 2.The assessee had filed his return of income for A.Y. 2016-17 on 01.02.2017 disclosing total income at Rs. Nil. Assessee was holding land  as capital asset  jointly with his wife and son. purchase in the year 1990. 3.. During  the  year  under consideration, the assessee had entered into development agreement with Developer , for development of the said land vide…


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  Sec. 2(47)(v) , Sec. 45
The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. The assessee had filed his return of income for A.Y. 2016-17 disclosing total income at Rs. Nil. Assessee was holding land jointly with his wife, son and daughter During the  year  under consideration, the assessee and other family members had entered into development agreement with M/s. ABC, developers for development of the said land vide registered development agreement. In consideration…


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  tenancy ve landlord
Mr A transfers his tenancy right in one outside bldg and earns capital gain thereon . He now reinvests the same in acquiring tenancy rights from a tenant in another building where he is landlord himself Is he eligible u/s 5454F or any other section for exemption ?    


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  Capital Gains
Assessee has old tools (Dies) about 150 years old and has no records of purchase or transfer till today. Valuation expert has made the valuation as of 2001 and it is about Rs. 30 lakhs. If the person capitalizes these tools (Dies) today with indexing from 2001, will there be any capital gain tax. Please Guide.


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