Proviso to section 48
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 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). …
Proviso to section 48
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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 … 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.
WebbSection 9 (1) (vi) of the Act defines the taxability of royalty income in India and had defined royalty to include transfer of all or any rights (including the granting of licence) in respect of patent, invention, model, design and secret formula or … Webb4 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...
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 … 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.
WebbOption-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.
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. ghost xp系统下载WebbFinance Act, 2016 has inserted proviso to section 48 w.e.f. 1-4-2024 stating that while computing capital gains arising ot a non-resident assessee on redemption of rupee denominated bond of an Indian company subscribed by him, the gain arising on account of appreciation of rupee against a foreign currency shall be ignored for the purpose of … froot loops movieWebbProviso. 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 … froot loop snack mixWebb13 sep. 2024 · [Proviso 3 to section 48]. (ii) Transfer of Soverign Gold Bond issued by RBI under the Soverign Gold Bond Scheme,2015. (iii) Transfer of shares in or debentures of … froot loops monster 3Webb9 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 … froot loops music programWebb5 juni 2024 · Section 48 of Income Tax Act 1961 – Mode of Computation of Capital Gains Mode of computation of capital gains means, the method that should be applied to … ghost xr3Webbsecond 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 exclusion of a … froot loops melonberry pink