Proviso to section 48
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. 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.
Proviso to section 48
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Webb20 juni 2024 · Whether Long term capital loss on listed securities (STT paid on buy & sale both) can be computed by following the section 112(1) by taking benefit of indexation as given in second proviso to section 48. Whether section 112A is mandatory to be followed or it is an option to choose either section 112 or section 112A whichever beneficial to ... 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 than—
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 … 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 …
WebbProviso. 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 … Webbsecond 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 …
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;
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 … horseheads football stadiumWebb4 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 … horseheads girls lacrosse 2021WebbThe 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' horseheads girls softball associationWebbAnswer (1 of 3): Provision means the Content of the Section in any act and proviso means Conditions or Exceptions to the Section. psilocybe californiaWebb22 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. horseheads greenroom playersWebb25 maj 2024 · “11UAE.Computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income-tax Act. (1) For the purpose of clause (ii) of sub-section (2) of section 50B, the fair market value of the capital assets shall be the FMV1 determined under sub-rule (2) or FMV2 determined under sub-rule (3), whichever is higher. psilocybe casing layerWebbPROVISO. 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 … horseheads girls volleyball