Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > Exemption from Capital Gain = Foundation
Exemption from Capital Gain = Foundation Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on Exemption from Capital Gain = Foundation Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is an exemption from capital gain? |  |
An exemption from capital gain refers to a provision in the tax law that allows certain entities, such as foundations, to be exempt from paying taxes on the profits they make from selling assets or investments. This exemption is aimed at promoting the charitable purposes of foundations and encouraging them to invest in activities that benefit society.
| 2. How can a foundation qualify for an exemption from capital gain? | |
In order to qualify for an exemption from capital gain, a foundation typically needs to meet certain criteria set by the tax authorities. These criteria may include being recognized as a charitable organization, having a specific purpose that aligns with the tax law's requirements, and ensuring that the profits from the sale of assets are used for charitable purposes.
| 3. What are the benefits of an exemption from capital gain for foundations? | |
The benefits of an exemption from capital gain for foundations are twofold. Firstly, it allows foundations to retain more of their profits from asset sales, enabling them to reinvest or allocate those funds towards their charitable activities. Secondly, it incentivizes foundations to engage in investment activities, knowing that they will not be burdened with significant tax liabilities when they sell their assets.
| 4. Are there any limitations or restrictions on the exemption from capital gain for foundations? | |
Yes, there are usually limitations and restrictions associated with the exemption from capital gain for foundations. These can vary depending on the jurisdiction and tax laws in place. Some common restrictions may include a requirement to use the profits from asset sales within a specific timeframe for charitable purposes, limitations on the types of assets that can qualify for the exemption, and compliance with reporting and transparency requirements.
| 5. Can foundations still be subject to other taxes even if they have an exemption from capital gain? | |
Yes, foundations can still be subject to other taxes even if they have an exemption from capital gain. The exemption only applies to the profits made from the sale of assets or investments. Foundations may still be liable for other types of taxes, such as income tax on any unrelated business income or property tax on real estate holdings. It is important for foundations to understand and comply with all relevant tax obligations to ensure their ongoing compliance.
Related Exams
About this Video
|
Nov 16, 2024 Last updated |
Video Description: Exemption from Capital Gain = Foundation for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for Exemption from Capital Gain = Foundation have been prepared according to the Taxation exam syllabus.
Information about Exemption from Capital Gain = Foundation covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Exemption from Capital Gain = Foundation.
Introduction of Exemption from Capital Gain = Foundation in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & Exemption from Capital Gain = Foundation in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for Exemption from Capital Gain = Foundation Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about Exemption from Capital Gain = Foundation
Here you can find the meaning of Exemption from Capital Gain = Foundation defined & explained in the simplest way possible.
Besides explaining types of Exemption from Capital Gain = Foundation theory, EduRev gives you an ample number of questions to practice Exemption from Capital Gain = Foundation tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
shortcuts and tricks
,video lectures
,Objective type Questions
,Viva Questions
,Exemption from Capital Gain = Foundation Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,practice quizzes
,Previous Year Questions with Solutions
,past year papers
,Summary
,Exam
,Exemption from Capital Gain = Foundation Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Extra Questions
,Exemption from Capital Gain = Foundation Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,ppt
,study material
,mock tests for examination
,MCQs
,Important questions
,Free
,Sample Paper
,Semester Notes
;
Study Exemption from Capital Gain = Foundation on the App
Students of Taxation can study Exemption from Capital Gain = Foundation alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Exemption from Capital Gain = Foundation,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Exemption from Capital Gain = Foundation is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup