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Tag: Transfer section 2(47)

Understanding Transfer in Capital Gains Section 2(47)

Posted on January 7, 2025January 7, 2025 By TaxDevi No Comments on Understanding Transfer in Capital Gains Section 2(47)
Understanding Transfer in Capital Gains Section 2(47)

Understanding Transfer in Capital Gains Section 2(47) As per section 45 of Income Tax Act, 1961, any profit or gains arise on transfer of capital asset is taxable under the head capital gains. This section emphasizes more on two important terms i.e. capital asset and transfer. Capital asset is defined under section 2(14) and transfer…

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