2024 Proviso to section 48

Proviso to section 48

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August undefined, 2024

Webb14 okt. 2007 · A perusal of the two provisos to section 48 of the Act shows that computation of capital gains is bifurcated into two parts. The first proviso covers those cases where the capital asset being... Webb27 juni 2024 · Section 48 provides for the mode of computation of capital gains. The second Proviso to this section also provides for indexation of cost of acquisition in cases of transfer of long term capital asset. Clause (iii) of Explanation under this section defines the term ‘indexed cost of acquisition’ as under;

Section 48 in summarized form – Reduction in case of ... - TaxGuru

Webb11 okt. 2013 · The fact that by this interpretation, a non-resident becomes entitled to double deductions by way of computation of gains in foreign currency under the first proviso to s. 48 and then the benefit of lower rate of tax under the proviso to s. 112 (1) is no reason to interpret the proviso differently. ohio bar exam format

Section 48 of Income Tax Act, 1961 - Sorting Tax

Webb4 maj 2024 · Section 48 of the Income Tax Act is used to compute the taxable income under capital gains by making certain deductions. Tax authorities compute the taxable … Webb22 nov. 2006 · (ii)The first proviso to section 48 prohibits any further relief in terms of indexation; and (iii)Such restriction is based on the premises that protection from fluctuation in rupee value in terms of foreign currency ensures protection from inflation. Thus, further benefit of indexation is unwarranted. WebbThe first proviso to section 48 is mandatory. Hence the non-resident covered by this proviso is not allowed to opt for indexation of cost (i.e. 2nd proviso to section 48). … ohio bar exam eligibility

Guide on GST Exemption on Sale and Purchase of Securities - ASC …

Webb9 jan. 2014 · Second Proviso to Sec. 48: Tax on Long Term Capital Gains applies to all assessees without giving benefit of indexation @ 10%. SHORT TERM CAPITAL GAIN . Now let us see in the same way Short Term Capital Gains. Here is the picture which represents Short Term Capital Gains with applicable tax rate along with the Section applicable to … WebbPrior to the substitution, section 48, as substituted by the Finance Act, 1987, w. e. f. 1- 4- 1988 and amended subsequently as annotated below, read as under:" 48. Mode of … my health elizabethWebb4 dec. 2024 · It removes the proviso to the old section 48 (3) which hitherto required that the receiver should exercise his powers over the assets of the debtor company subject to the rights of secured... ohio bar exam february

"Webb1 apr. 2024 · As per Section 2 (48) of Income Tax Act, 1961, unless the context otherwise requires, the term “zero coupon bond” means a bond-. (a) issued by any infrastructure capital company or infrastructure capital fund or infrastructure debt fund or public sector company or scheduled bank on or after the 1st day of June, 2005; (b) in respect of which ... " - Proviso to section 48

Proviso to section 48

WebbThe following provisos shall be substituted for the existing third proviso to section 48 by the Finance Act, 2016, w.e.f. 1-4-2024 : Provided also that nothing contained in the second proviso shall apply to the long-term capital gain arising from the transfer of a long-term capital asset, being a bond or debenture other thanâ€” Webbproviso to section 48 regarding computation in terms of foreign exchange utilized to acquire the asset is applicable. (c)Alternatively, if the assessee invests the net consideration in a specified asset, then, the capital gains would be exempt as …

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WebbFirst proviso to section 48 states that in the case of an assessee who is a non-resident, capital gain arising from the transfer of shares in an Indian company, shall be computed … Webb10 okt. 2013 · • First proviso to Section 48 is applicable when a non-resident had purchased an asset being a share or debenture with foreign currency, converted into Indian rupee. It stipulates that on transfer or sale of the said share or debenture the consideration received in Indian rupee should be reconverted into the same foreign currency.

WebbCapital Gains In Case Of Non-Residents - FIRST PROVISO TO SECTION 48 AND RULE 115A - Income Tax - Ready Reckoner - Income Tax Extract ..... as initially utilized in the purchase of such shares or debentures. The capital gain so computed in the foreign currency shall be reconverted into Indian currency. Webbsection 48” used in the proviso to section 112 (1) of the Act signifies that applicability of second proviso to section 48 was an essential condition for applicability of concessional …

Webb17 okt. 2007 · The second proviso to section 48 is only a mode of computation of capital gains. The crucial words relied upon by the revenue cannot be construed as the words of … WebbThe amended provision of section 48 is effective for financial year 2024-23 relevant to the assessment year 2024-24. In this article, you will learn detail of the provisions of section …

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Webb9 sep. 2024 · Section 48 Mode of computation. The income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of the … ohio barge line incWebbPROVISO. It is hereby agreed that the Borrower 's obligations under this Clause 13 to provide or furnish the Agent with any information regarding the Initial Charterer shall … ohio barge fireWebbThe first proviso to section 48 is mandatory. Hence the non-resident covered by this proviso is not allowed to opt for indexation of cost (i.e. 2nd proviso to section 48). Related Topics....Under the head 'Capital Gain ' Capital Assets, Capital Gain & Transfer of Capital Assets for Taxation of 'Capital Gain' ohio bargaining agreementsWebbOption-1: LTCG on securities without availing indexation benefit under the 2nd proviso to section 48. 10%. Both Residents and Non-Residents. Option-2: LTCG with indexation benefits under the 2nd proviso to section 48. 20%. Following were the tax implications on GST exemption on sale and purchase of securities. myhealthelife stony brook medicineWebbCovered in this video1st proviso to 7th proviso to section 48#caseabdarnamat. myhealth eltham northWebb31 maj 2024 · There are some confusion remains in case of transferring of shares that whether indexation allowed or not in such cases, so according to third proviso to section … ohio barge companiesWebbProviso. A condition, stipulation, or limitation inserted in a document. A condition or a provision in a deed, lease, mortgage, or contract, the performance or non-performance of … myhealth e login