Section 54EC of Income Tax Act 1961 – Decoded!

section-54ec-of-income-tax-act-1961

Section 54EC of Income Tax Act 1961 provides for tax exemption on capital gains from sale of any Long Term Asset (original asset) provided that capital gains are invested in specified bonds (new asset) within a period of 6 months after the date of transfer of ... Read More »

Section 54D of Income Tax Act 1961 – Decoded!

section-54d-of-income-tax-act-1961

Section 54D of Income Tax Act 1961 provides for tax exemption on capital gains that arises from compulsory acquisition, under any law of capital asset, of land or building or any right in land or building (original asset) belonging to an industrial undertaking. Following conditions ... Read More »

Section 54B of Income Tax Act 1961 – Decoded!

section-54b-of-income-tax-act-1961

Section 54B of Income Tax Act 1961 applies to an individual or Hindu Undivided Family. Section 54B provides for tax exemption on capital gain that arises from sale of agricultural land (original asset) provided that 1. The land was being used by the assessee or ... Read More »

Section 54 of Income Tax Act 1961

section-54-of-income-tax-act-1961

Section 54 of Income Tax Act 1961 provides tax exemption on capital gains that result from sale of residential house property. In this article we will discuss about tax exemptions available under section 54 in detail. Conditions to be satisfied under section 54 Who can ... Read More »

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