Computation of Income From Capital Gains Under Income Tax Law
- Year of Publication: 2020
- Edition: 4th
- ISBN: 9788194610779
- No.of Pages: 638
Income from capital gains is one of the important heads of income under the Income Tax Act, 1961. Lack of awareness amongst taxpayer is often cited as the main reason for low level of compliance towards tax laws. Our work revolves around us creating assets and wealth in a bid to lead a more comfortable lifestyle. Asset creation is a hard task in itself, involving time and effort but the end results are often worth the toil and sweat. As citizens of India it is our duty to pay taxes on our wealth, which includes assets as well, and Capital Gain refers to the profit which one gets when he/she transfers a capital asset.
Quite often, people dispose of their movable and immovable asset, but due to lack of knowledge about the provisions of law, they are not aware about their liability towards Capital Gains Tax. This book titled “Computation of Income from Capital Gains” under Income Tax Law is an attempt to help the taxpayers by explaining the provisions relating to calculation of Capital gain Tax in an easy-to-understand language. The amendments made by the Finance Act, 2020 have been incorporated at appropriate places in the book.
Ram Dutt Sharma was born on 27th June, 1958 in Narnaul, Haryana. He got his post-graduation from M.D. University, Rohtak in 1980. He joined the Income tax Department in the year 1983and retiredas Income Tax Officer on 30.06.2018. He worked at various stations of North-West Region of Income-tax Department. He has wide experience of all wings of Income-tax Department such as Assessment Unit, Special Range, TDS Wing, Investigation Wing, etc. He has been Contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations.
AWARDS
He is recipient of first-ever Finance Minister’s Award 2017, the Income Tax Department’s highest honour for sustained devotion, commitment to duty & promoting excellence in the field of Direct Taxation at National Level. The Hon’ble Union Finance Minister, Shri Arun Jaitley conferred this Finance Minister’s Award for Excellence for his meritorious services at Vigyan Bhawan, New Delhi on 24-07-2017.
CERTIFICATE OF APPRECIATION
Awarded by Hon’ble Member (Revenue & TPS), CBT, Special Secretary to the Government of India Certificate of Appreciation for his contribution recognized and included in the chapter “Miscellaneous Orders” in “Let Us Share–A compilation of Best Practices & Orders” Vol.–VIII released on 31st of October, 2016. Awarded by Hon’ble Member (Revenue & TPS), CBT, Special Secretary to the Government of India Certificate of Appreciation for his contribution recognized and included in the chapter “Miscellaneous Orders” in “Let Us Share–A compilation of Best Practices & Orders” Vol.–VIII released on 31st of October, 2016.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
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- Year of Publication: 2020
- Edition: 4th
- ISBN: 9788194610779
- No.of Pages: 638
Income from capital gains is one of the important heads of income under the Income Tax Act, 1961. Lack of awareness amongst taxpayer is often cited as the main reason for low level of compliance towards tax laws. Our work revolves around us creating assets and wealth in a bid to lead a more comfortable lifestyle. Asset creation is a hard task in itself, involving time and effort but the end results are often worth the toil and sweat. As citizens of India it is our duty to pay taxes on our wealth, which includes assets as well, and Capital Gain refers to the profit which one gets when he/she transfers a capital asset.
Quite often, people dispose of their movable and immovable asset, but due to lack of knowledge about the provisions of law, they are not aware about their liability towards Capital Gains Tax. This book titled “Computation of Income from Capital Gains” under Income Tax Law is an attempt to help the taxpayers by explaining the provisions relating to calculation of Capital gain Tax in an easy-to-understand language. The amendments made by the Finance Act, 2020 have been incorporated at appropriate places in the book.
Ram Dutt Sharma was born on 27th June, 1958 in Narnaul, Haryana. He got his post-graduation from M.D. University, Rohtak in 1980. He joined the Income tax Department in the year 1983and retiredas Income Tax Officer on 30.06.2018. He worked at various stations of North-West Region of Income-tax Department. He has wide experience of all wings of Income-tax Department such as Assessment Unit, Special Range, TDS Wing, Investigation Wing, etc. He has been Contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations.
AWARDS
He is recipient of first-ever Finance Minister’s Award 2017, the Income Tax Department’s highest honour for sustained devotion, commitment to duty & promoting excellence in the field of Direct Taxation at National Level. The Hon’ble Union Finance Minister, Shri Arun Jaitley conferred this Finance Minister’s Award for Excellence for his meritorious services at Vigyan Bhawan, New Delhi on 24-07-2017.
CERTIFICATE OF APPRECIATION
Awarded by Hon’ble Member (Revenue & TPS), CBT, Special Secretary to the Government of India Certificate of Appreciation for his contribution recognized and included in the chapter “Miscellaneous Orders” in “Let Us Share–A compilation of Best Practices & Orders” Vol.–VIII released on 31st of October, 2016. Awarded by Hon’ble Member (Revenue & TPS), CBT, Special Secretary to the Government of India Certificate of Appreciation for his contribution recognized and included in the chapter “Miscellaneous Orders” in “Let Us Share–A compilation of Best Practices & Orders” Vol.–VIII released on 31st of October, 2016.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
