Capital gains is one of the five heads of income chargeable to tax. This book shows how you can save tax on your capital gains through an analysis of both the various relevant tax provisions and all the exemptions and deductions you can avail of:

• What is a capital asset

• What constitutes "transfer" of a capital asset: transactions not constituting transfer of capital assets

• Distinction between long-term and short-term capital gains: a very important point since very few exemptions are available in the case of the latter

• Deductions you can make in relation to the Cost Inflation Index

• Special deductions available on the transfer of a residential house

• How to benefit from carry-forward or set-off of capital loss

• When is agricultural land a capital asset — and when it is not

• Computation of capital gain for a depreciable asset

• Capital gains exemption on personal effects

• Year of taxability of capital gains of different assets.

Plus, all else you need to know for fool-proof tax planning of your capital gains. And, all of it at your fingertips in an instant-reference A-to-Z format.