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Immovable Asset As Gift From Specific Relatives Not Taxable For Recipient

Immovable asset such as a property received from some of the specified relatives including mother is not taxable in the hands of a receiver. Nonetheless these transactions are subject to some other levies and fees such as stamp duty implications. ...

How to save capital gains by investing in NHAI capital gain bonds?

To avoid paying capital gain taxes levied on the profits made by selling of capital assets like stocks, bond or real estate you can invest on NHAI capital gain bonds Series XV. The bonds are issued by National Highway Authority of ...

Disclose tax free income on different investments when filing income tax return

Tax-free income earned on different financial instruments has also to be shown while filing income tax returns. Likewise as required by the Income Tax Act, any income earned on mutual funds which also in most of the cases is tax-free has ...

Sale of agricultural land in some cases does not attract capital gains tax

Sale of capital assets attracts capital gains tax and in case the property has been held for over three years, long term capital gains tax is charged. In case of agricultural land, location where the piece of land is situated decides ...

How is capital gains computed on Mutual Fund?

Sale of assets including mutual funds, equity, property, bonds etc. result in capital gain or capital loss. Capital gain or capital loss is the profit earned or loss incurred on account of selling a particular asset. Further, capital gains as well ...