Contents
Preface to the 21st Edition
ABC of Capital Gains
Actual Cost
Additional Compensation
Additional Ground of Appeal on Capital Asset
Adventure in the Nature of Trade
Adventure in the Nature of Trade v. Capital Gain
Agricultural Land
Agricultural Land Received as Gift and Developed and Sold as Plot
Agricultural Land Sale and New Land Purchase in Soni's Name as Co-owner Still Tax Deduction Entitled
Agricultural Land Sale -- No Capital Gains Even if Agricultural Income Not Shown in Income-tax Return
Agricultural Land within a Municipality is a Capital Asset
Allotment of Flat and Payment of First Instalment
Amalgamation and Transfer of a Capital Asset
Amalgamation of Companies
Amount Forfeited Liable to Income-tax
Amount Paid to Retiring Partner
Amount Received for Giving a Right of Specific Performance
Amount Received for not Engaging in Competitive Business
Amount Received in Excess of Share from Firm
Asset to be a Capital Asset on the Date of Transfer
Assets Distribution to Shareholders on Liquidation
Assets Distributed to Shareholders on Winding up
Assets Given Under Agreement to Live Apart
Assets Owned by Firm Transferred to Other Firm
Assignment of Contract
Bifurcation and Apportionment of Sale Consideration between Land and Factory Building
Bifurcation of Capital Gains into Long-term Capital Gains and Short-term Capital Gains in the case of Land and Building
Bifurcation of Consolidated Price
Boardi's (CBDT) Circulars
Bogus Capital Gains
Bonds
Bonus Shares and Capital Gains
Brand Name
Burden to Prove Investment of Capital Gain in Residential House on the Assessee
Business Income or Capital Gains
Business Income on Short-term Capital Gains
Business Undertaking
Capital Asset
Capital Contribution by a Partner
Capital Gains ab initio Null and Void on Sale of Land
Capital Gain Account Scheme
Capital Gains Accrual
Capital Gains Accruing on Agreement to Sell
Capital Gain and Purchase of New Property in the Name of other Family Member
Capital Gain and Investment in Partial Incomplete House
Capital Gain Arising from Shares Acquired on Amalgamation of a Company
Capital Gain Arising from Transfer of an Asset by Way of Compulsory Acquisition
Capital Gains Assessable as Business Income
Capital Gain Benefit Available only for Purchase of Residential House and not Merely Purchase of Temporary Structure
Capital Gain Concept
Capital Gain Exemption on Investment in Specified Bonds, namely Capital Gain Bonds
Capital Gains Exempted on Purchase of Residential Property before Furnishing Income-tax Return under Section 139(4)
Capital Gains Exemption to Charity Trust
Capital Gain from the Acquisition of industrial Undertaking
Capital Gain from Transfer of Residential House
Capital Gains in Real Estate Transactions
Capital Gain in the case of Firm
Capital Gain on Lending of Securities through RBI
Capital Gains on Compensation on Compulsory Acquisition of Urban Agricultural Land -- Section 10 (37)
Capital Gains on Compulsory Acquisition on Date of Actual Possession and not on the Date of Notification
Capital Gain on Conversion of Leasehold Property Rights to Freehold Property Rights
Capital Gain on Family Partition
Capital Gains on Sale of Land with Building when Building is Demolished
Capital Gain on Sale of Shares, Debentures, etc. Received under ESOP
Capital Gain or Business Income
Capital Gains Utilised for Setting up New Factory
Capital Loss to a Shareholder on Liquidation can be Set off or
Carried Forward and Set off
Carry-forward and Set-off of Losses under "Capital Gains"
Casual Nexus between Transfer and Gain
Charitable Trust and Capital Gain
Clubbing Provision and Capital Gains
Compensation and Salvaging Expenses
Compensation etc. when Capital Gain
Compensation for Compulsory Acquisition of Agricultural Land
Compensation in Pursuance of Interim Order
Compensation on Acquisition of Agricultural Land in Urban Areas results into Assessable Capital Gains
Compensation Paid by Insurers
Compensation Paid to Tenants for Delivering Vacant Possession
Compensation Reduced
Compromise Agreement and Payment to Father
Compromise Decree and Deduction
Compulsory Acquisition of Land and Dispute Regarding Quantum of Compensation
Computation of Capital Gain and Deduction of the Cost of Acquisition & Improvement
Computation of Capital Gain Where There is no Cost of Acquisition
Computation of Capital Gains in the Case of a Depreciable Asset
Computation of Capital Gains after Deduction as per Cost Inflation Index
Computation of Capital Gains and Deduction of Brokerage
Computation of Capital Gains and Valuation Adopted in Case of a Co-owner
Consolidated Price of Capital Asset
Constitutional Validity
Construction Amount Paid to Builder
Construction before Transfer not Entitled to Exemption
Construction of Building Not Worth Occupying
Construction of House -- Meaning of
Conversion of Bonds into Shares or Debentures
Conversion of Firm into Company and Allotment of Shares to Partners
Conversion of Land from Leasehold to Freehold and Transfer Thereof
Conversion of Partnership Firm into a Company
Conversion of Partnership from into a LLP
Conversion of Private Limited Company into a LLP
Conversion of Proprietary Business into Firm
Conversion of a Sole Proprietary Concern into a Company
Corporatisation of a Stock Broker's Card
Corporatisation of Stock Exchange and Capital Gains Tax Exemption to Facilitate De-mutualisation and Corporatisation
Cost of Acquisition of Inherited Assets
Cost of Acquisition of Amount Paid to Obtain Additional Share in HUF
Cost Inflation Index
Cost of Acquisition
Cost of Acquisition of an Asset Acquired Prior to 1-4-1981
Cost of Acquisition of Leasehold Rights
Cost of Acquisition and Cost of Improvement in Case of a Right to Manufacture, Produce or Process any Article or Thing
Cost of any Improvement
Cost of Bonus Shares
Cost of Improvement of Owner's Title
Cost to HUF Coparcener
Cost with Reference to Certain Modes of Acquisition
Cut-off Date for Treating Land as Agricultural Land
Dairy Business and Sale of Calves
Damages and Consent Decree
Date of Allotment to be Considered for Capital Gains
Date of Execution of Conveyance Deed to Decide Capital Gain
Date of Possession of Cooperative Society Flat
Date of Transfer
Dealer in Shares not Liable to Capital Gains
Death of Partner and Transfer of Assets
Debentures
Deduction of Dues of Sale Proceeds
Deduction of the Cost of Improvement
Deductions in Computation of Taxable Capital Gains
Deduction of Additional Expenditure not Allowed in Computing Capital Gain
Deductions in Computing Capital Gain
Deemed Capital Gains
Deemed Capital Gain on Dissolution of Firm, etc
Deemed Short-term Capital Gain
Delivery Based Transactions with Investment Motive would be Short-term Capital Gains
Demergers and Capital Gains
Deposit of Unutilised Money into Bank and Exemption
Depreciable Assets
Depreciable Assets and Cost Inflation Index
Depreciable Assets and Sale of Fixed Assets
Determination of the Date of Transfer and the Period of Holding of Securities held in Dematerialized Form under Section 45(2A)
Devaluation Gains
Difference between Sale Price and Fair Market Value
Distribution of Capital Assets
Distribution of Capital Assets on Dissolution of Firm, etc
Distribution of Capital Assets on Partition of Hindu Undivided Family
Embezzled Amount resulting in a Loss to the Transferor not Deductible
Employee Stock Options and Capital Gains
Enhancement of Compensation
Equity Shares Cost under Section 80CC
Estate Duty Payment not to be Treated as Cost of Acquisition
Excess of Compensation over Book Value of the Share
Exchange and Capital Gains
Exemption of Capital Gain on Conversion of a Firm into a Company
Exemption of Capital Gain on Conversion of a Sole Proprietary Concern
Exemption of Capital Gains on Demergers
Exemption of Capital Gains on Stock Lending -- Section 47(xv)
Exemption of Capital Gains on Transfer of a Membership Right of Stock Exchange
Exemption of Capital Gains Regarding Transfer of Agricultural Land
Exemption of Capital Gains Regarding Compulsory Acquisition
Exemption of Capital Gains Regarding Reverse Mortgage
Exemption of Capital Gains Regarding Shifting of Industrial Undertakings
Exemption of Capital Gains Tax on Corporatisation of Stock Exchange
Exemption of Interest and Long-term Capital Gains of an Infrastructure Capital Fund or Infrastructure Capital Company from Investments
Exemption of Long-term Capital Gain
Exemption of Long-term Capital Gains on Investment in Bonds of NHAI and REC: Section 54 EC
Exemption of Long-term Capital Gains on Investment in Specified Mutual Funds, Bonds and Debentures: Section 54EA and 54EB
Exemption of Long-term Capital Gains on Sale of Listed Securities & Units, etc.
Exemption of Long-term Capital Gains on Sale of a Residential House Property
Exemption of Long-Term Capital Gains on Securities & Units, Securities Transaction Tax and Lower Tax on the Short-term Capital Gains -- Sections 2(38), 111A & AD & Ch. VII.
Exemption of Long-term Capital Gains Regarding any other Asset
Exemption of Sale Proceeds of Second Site Invested in Development of First Residential House
Exemption under Section 54 or under Section 54E
Expenditure Incurred for Vacating Hutment Dwellers
Expenses Incurred in Removing Encumbrance to Transfer
Expenditure Incurred Wholly and Exclusively in Connection with Transfer
Extinguishment of Rights
Fair Market Value
Fair Market Value Deemed to Be Full Value of Consideration
Fair Market Value of CA Acquired before 1 April, 1981 and Capital Gains
Fair Market Value on Dissolution
Family Arrangement
Fictional Income and Capital Gains
Firms Assets Taken Over by a Partner
Firm's Dissolution and Capital Gains
Firm's Immovable Property and Partners
Firm's Property Withdrawn by Partners
First Instalment of Payment for Property Relevant for Capital Gains
Foreign Company Selling Business to an Indian Company
Foreign Company Amalgamating with Wholly Owned Subsidiary
Foreign Company not Liable to Capital Gains
Foreign Company Selling Original as well as Bonus Share to Indian Company
Forfeiture Company Transferring Shares to its Foreign Subsidiary Company Abroad is not Liable to Capital Gains
Forfeiture or Withdrawal of Exemption
Gift Shares
Giving up Right to Claim Specific Performance of Contract Results into Taxable Capital Gain
Global Depository Receipts and Concessional Rate of Tax on Capital Gains -- Section 115ACA
Going Concern Sale
Gold, Gold Bonds and Gold Deposit Bonds
Goodwill and Capital Gains
Government Securities
Granting of Sub-lease Constitutes Transfer and Assessable Capital Gain
Heirloom Jewellery Recognised as Dynastic Jewellery by Central Government Constitutes "Personal Effects" of Rulers
Held v. Owned by an Assessee
Hindu Undivided Family and Exemption of Capital Gains
Holding Company"s Transfer to Subsidiary Company
House Property and Capital Gains
House Property not used as Residence
HUF and Common Hotchpotch
Illegal Possession of Lessee
Immovable Property
Improvement of Capital Asset and Capital Gains
Indexed Cost of Acquisition
Indexed Cost of Improvement
Infrastructure Capital Fund or Company
Inherited Capital Asset and Capital Gains
Inseparable Goodwill Deducted
Insurance Amount in Excess of Cost
Insurance Claim against Destruction of Factory Building
Interest on Amount Borrowed for Purchase of Property is Cost of Acquisition of Property, hence Deductible
Interest on Delayed Payment of Unearned Increase
Interest on Enhanced Compensation
Interest Paid for Acquisition of Shares to be Capitalized
Investment in Expansion of Existing Residential House not entitled to Capital Gains Tax Benefit
Investment in Foreign Residential Property not allowed for Saving Capital Gain Tax
Investment in Purchase of Two Flats under Two Agreements from Different Sellers Valid to Save Capital Gains
Investment of Bonds in Joint Names
Investment of Capital Gains by Charity Trust in Bank Fixed Deposit
Investment of Sale Consideration in Residential House the Land of which was Owned by Assessee's Wife Entitles for Tax Exemption
Investor or Trader in Shares
Jewellery for Personal Use
Land Acquisition Compensation
Land and Building Bifurcation
Land for Agricultural Purposes
Land Sale by a Sick Industrial Company Managed by a Workers' Co-operative
Leasehold Rights
Liquidated Damages
Liquidation and Capital Gains
Loan Repayment Not Deductible While Transferring Property
Long-term Capital Asset
Long-term Capital Gain
Long-term Capital Gains on Non-equity Oriented Mutual Funds
Long-term Capital Gains on Transfer of Securities -- Section 10(38)
Long-term Capital Gains or Business Income
Long-term Capital Loss
Loom-hours and Capital Gains
Loss on Redemption of Bonds Deductible
Loss on Revaluation of Shares
Loss on Sale of Capital Assets
Loss on Sale of Irredeemable Preference Shares held as Short-term CL
Losses under the Head "Capital Gains"
Lower Capital Gains Tax on Unlisted Securities by Non-Resident
Machinery Sale
Market Value for Asset Acquired prior to 1 April 1981
Market Value to be taken as Cost of Acquisition
Meaning of Residential House for the Purpose of Section 54 and 54F
Membership of the Stock Exchange
Mesne Profits Not Taxable as Capital Gains
Mortgage Discharged by Vendee on Behalf of Vendor
Mortgage is a Capital Asset
Non-Agricultural Potential Land
No Capital Gains on Adjustment of Shares among Family Members
Non-Compete Fees
Non Payment of Entire Purchase Price
Non-Genuine Transaction of Purchase and Sale of Shares
Non-Resident and Cost of Acquisition of Shares
Non-Resident Indians and Capital Gains
Non-Resident Holding Shares in Indian Company and Transferring to Non-resident Company
Occupation of Property Sold
Option to Adopt Fair Market Value
Option to Substitute Fair Market Value
Owelty, Family Settlement and Capital Gains
Partition of Hindu Undivided Family and Distribution
Partner"s Capital Contribution
Passing of Title in Goods
Penalty for Furnishing Inaccurate Valuation not Permissible on the Basis of Valuation Officer"s Report
Personal Effects and Capital Gains Exemption
Possession on Part Performance
Potential Gain without Transfer
Previous Owner
Profit on Sale of Shares Assessable as Capital Gains
Profit on Sale of Shares Treated as Capital Gain as Shares not Treated as Stock in Trade
Property Acquired without Cost
Property with Boundary Wall and Garage cum Room not a Residential House
Purchase and Sale of Share not Capital Gain but Business Income
Purchase and Sale of Shares within a Short Period would be Capital Gain
Purchase of Agricultural Land to Save Capital Gain
Purchase of Four Portions of Property to Save Capital Gains
Purchase of House Property and Exemption
Purchase of Two Flats which were Combined to make one
Residential Unit Valid for Claiming Exemption u/s 54
Rate of Income Tax on Long-term Capital Gains
Reassessment of Capital Gains
Redemption of Preference Shares
Reduction in Face Value of Shares
Reference to departmental Valuation Officer for Capital Gains Purpose
Reference to Valuation Officer
Reinvestment of Capital Gains in New Floor of the Same Building
Registration of Transfer of Property
REITS -- Taxation of Capital Gains
Relinquishment of Rights over Capital Assets Amounts to Transfer
Relinquishment of the Capital Asset
Renunciation of Rights Shares
Renunciation of Right to Subscribe Right Shares
Report of Departmental Valuation Officer
Requisition and Acquisition of Immovable Property
Re-purchase of House Sold and Availability of Exemption
Residential House Sale and Purchase of New House in the Name of Wife Saves Capital Gains
Residential Property Transfer
Residential Property Transferred by AOP
Revaluation of Assets on Reconstitution of Firm
Reverse Mortgage
Right in Property
Right of Possession
Right to Construct Additional Storey on Account of Increase in FAR is CR
Right to Manufacture, Produce or Process any Article or Thing or
Right to Carry on any Business
Right to Obtain a Conveyance
Rights Shares and Rights Entitlement, etc
Right to Subscribe Shares / Debentures on the Basis of Existing Holding
Right to Sue
Rubber Estate with Yielding Trees
Rubber Plantation and Capital Gains
Rural Agricultural Land
Sale Deed showing Lesser Amount than Shown in Agreement Still Correct for Capital Gains Computation
Sale of Assets of Firm
Sale of Immovable Property by Partner to Firm
Sale of Land and Superstructure
Sale of Plot is to be considered for CAPITAL GAIN and not for Business Profit
Sale of Property by Partner which was Previously Owned by Firm
Sale of Stock-in-trade Converted or Treated as such from a Capital Asset
Sale of Unlisted Shares
Sale Proceeds Invested in a Flat under Construction Amounts to Construction
Sale Proceeds Invested in Residential House in the Name of Adopted Son not Entitled to Tax Exemption
Scheme for Deposit of Unutilised Amount
Separate Bifurcation of Price for Land and Building
Separate Folios for Investment and for Trade Results into Share Trader as well as Investor
Share or Stock of a Company
Shareholder"s Liability in case of Liquidation
Shares and Securities
Shares Buying and Selling by Company -- Business or Capital Gains
Shares Investment Out of Own Funds after Delivery and Payment Profit is Capital Gains and Not Business Income
Share Transfer to Subsidiary Companies
Shifting of Industrial Undertaking from Urban Area
Short-term Capital Asset
Short-term Capital Gain
Short-term Capital Loss
Short-term, Long-term Capital Gains Depending on the Base when the rights were acquired under the agreement
Silver Utensils
Slump Sale -- No Capital Gains
Slump Sale
Slump Sale and No Capital Gain
Solatium
Stamp Duty Rate to be taken for Actual Consideration
Stock Exchange Corporatisation
Stock-in-trade
Stock Lending
Subsidiary Company"s Transfer to Holding Company
Sum received by a Partner on Dissolution or Retirement
Surrender of Lease
Surrender of Shares in Exchange of Land amounts to Transfer
Surrender of Tenancy Rights
Tax Assessment as Individual or as AOP
Tax Exemption on Joint Purchase of Residential House
Tax on Long-term Capital Gains
Tax on Long-term CAPITAL GAINs in regard to Shares, Units and Securities -- Section 112
Tax Treatment of Capital Gain not Utilised under Section 54F
Taxation Regime for Real Estte investment Trust (REIT)
Tax Treatment of Enhanced Compensation
Tehsildar Report about Land being Beyond Eight Kilometres from Municipal Limit hence Gains from Transfer Exempted
Tenancy Rights
Tests for Agricultural Land
Time of Transfer
Total Income to Include Capital Gains
Trade Mark
Transactions Deemed to be Sale
Transactions Not Regarded as Transfer
Transfer
Transfer of Assets by Private Company or Unlisted Public Company to LLP Not Liable to Tax
Transfer of a Capital Asset
Transfer of Agricultural Land
Transfer of Entire Business
Transfer of Immovable Properties of the Firm to Partners by Mere Book Entries
Transfer of Membership Rights in Stock Exchange consequent to Demutualisation or Corporatisation
Transfer of Non-residential House Property and Other Assets
Transfer of Property under Mortgage
Transfer of Residential House Property
Transfer of Stock-in-trade
Transfer of Undertaking to Wholly Owned Subsidiary Company
Transfer on Amalgamation
Transfer to a Company
Understatement of Consideration
Unearned Increase paid to Land and Development Office
Uniform Rate of Exchange
Units of UTI Mutual Fund and Other Mutual Funds
Urban Land Tax and Corporation Tax Not Deductible from Capital Gain
Urban Agricultural Land
Valuation of Capital Assets
Valuation Report of Valuer
Winding up of a Company
Withdrawal of Exemption
Year of Taxability of Capital Gains