78 ViewsWithdrawal of exemption in certain cases Section – 47A, Income-tax Act, 1961 47A. (1) Where at any time before the expiry of a period of eight years from the date of the transfer of a capital asset referred to in clause (iv) or, as the case may be, clause (v) of section 47,— (i) such capital …
83 ViewsTransactions not regarded as transfer Section – 47, Income-tax Act, 1961 47. Nothing contained in section 45 shall apply to the following transfers :— (i) any distribution of capital assets on the total or partial partition of a Hindu undivided family; (ii) [***] (iii) any transfer of a capital asset under a gift or will or an …
54 ViewsCapital gains on purchase by company of its own shares or other specified securities Section – 46A, Income-tax Act, 1961 46A. Where a shareholder or a holder of other specified securities receives any consideration from any company for purchase of its own shares or other specified securities held by such shareholder or holder of other …
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108 ViewsCapital gains on distribution of assets by companies in liquidation Section – 46, Income-tax Act, 1961 46. (1) Notwithstanding anything contained in section 45, where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be regarded as a transfer by the company for the purposes of section 45. (2) …
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116 ViewsCapital gains Section – 45, Income-tax Act, 1961 45. (1) Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income-tax under the head “Capital gains”, and shall be deemed to be the income of the previous year …
83 ViewsSpecial provision for computing deductions in the case of business reorganization of co-operative banks Section – 44DB, Income-tax Act, 1961 44DB. (1) The deduction under section 32, section 35D, section 35DD or section 35DDA shall, in a case where business reorganisation of a co-operative bank has taken place during the financial year, be allowed in accordance with the provisions of this …
102 ViewsSpecial provision for computing income by way of royalties, etc., in case of non-residents. Section – 44DA, Income-tax Act, 1961 44DA. (1) The income by way of royalty or fees for technical services received from Government or an Indian concern in pursuance of an agreement made by a non-resident (not being a company) or a …
89 ViewsSpecial provisions for computing income by way of royalties, etc., in the case of foreign companies Section – 44D, Income-tax Act, 1961 44D. Notwithstanding anything to the contrary contained in sections 28 to 44C, in the case of an assessee, being a foreign company,— (a) the deductions admissible under the said sections in computing the income by way …
92 ViewsDeduction of head office expenditure in the case of non-resident Section – 44C, Income-tax Act, 1961 44C. Notwithstanding anything to the contrary contained in sections 28 to 43A, in the case of an assessee, being a non-resident, no allowance shall be made, in computing the income chargeable under the head “Profits and gains of business or profession”, in …
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102 ViewsSpecial provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects. Section – 44BBB, Income-tax Act, 1961 44BBB. (1) Notwithstanding anything to the contrary contained in sections 28 to 44AA, in the case of an assessee, being a foreign company, engaged in the business of civil …
