Finding that the assessee has not fulfilled either of the conditions mentioned in Section 54 of the Income tax Act, the New Delhi ITAT held that there is no infirmity in the orders of the I-T .
In India, the taxation system has been detailed. The taxation regimes often bring about many changes depending on the needs of administrative goals. Amongst the various changes in rules, the government of India has made changes in the Long Term Capital Gains (LTCG) taxation system. The LTCG changes have been applicable from April 1, 2018,
Securities Transaction Tax (STT) is imposed on both buyers and sellers in the Indian stock market. Capital loss occurs while selling an asset for less than its purchase price and can be used to offset capital gains. Both short-term and long-term losses can be carried forward for 8 years.
Capital gains are the profit you make when you sell a capital asset (such as real estate, furniture, precious metals, vehicles, collectibles or major equipment) for more money than it cost you. The.