B Com Exam > B Com Videos > Income Tax Laws > Income from Capital Gains - Head of Income, Income Tax Laws
Income from Capital Gains - Head of Income, Income Tax Laws Video Lecture | Income Tax Laws - B Com
|
27 videos|25 docs|12 tests
|
FAQs on Income from Capital Gains - Head of Income, Income Tax Laws Video Lecture - Income Tax Laws - B Com
| 1. What is the head of income for capital gains? |  |
Ans. The head of income for capital gains refers to the specific category under which income from capital gains is classified for income tax purposes. It is one of the five heads of income as per the Income Tax Laws in India.
| 2. How is income from capital gains taxed? | |
Ans. Income from capital gains is taxed differently based on the period of holding of the asset. If the asset is held for less than 36 months, it is considered a short-term capital gain and taxed at the applicable income tax slab rate. If the asset is held for more than 36 months, it is considered a long-term capital gain and taxed at a flat rate of 20%.
| 3. Can capital losses be set off against capital gains? | |
Ans. Yes, capital losses can be set off against capital gains. If an individual incurs a capital loss in a financial year, it can be set off against any capital gains made in the same financial year. If the capital losses cannot be fully set off in the same financial year, the remaining losses can be carried forward for set off against future capital gains for a specified period.
| 4. Are there any exemptions available for capital gains? | |
Ans. Yes, there are certain exemptions available for capital gains under the Income Tax Laws. For example, if an individual sells a residential property and invests the sale proceeds within a specified period in purchasing another residential property, they can claim an exemption under Section 54 of the Income Tax Act. Similarly, there are exemptions available for investments made in specified bonds, startups, etc.
| 5. Are there any specific reporting requirements for capital gains in the income tax return? | |
Ans. Yes, there are specific reporting requirements for capital gains in the income tax return. The details of the capital gains, including the type (short-term or long-term), the sale price, the cost of acquisition, and any exemptions claimed, need to be reported in the appropriate schedule of the income tax return form. It is important to accurately report the capital gains to ensure compliance with the Income Tax Laws.
Related Exams
About this Video
|
1.9K Views |
|
4.64/5 Rating |
|
Nov 16, 2024 Last updated |
Video Description: Income from Capital Gains - Head of Income, Income Tax Laws for B Com 2024 is part of Income Tax Laws preparation.
The notes and questions for Income from Capital Gains - Head of Income, Income Tax Laws have been prepared according to the B Com exam syllabus.
Information about Income from Capital Gains - Head of Income, Income Tax Laws covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Income from Capital Gains - Head of Income, Income Tax Laws.
Introduction of Income from Capital Gains - Head of Income, Income Tax Laws in English is available as part of our Income Tax Laws for B Com & Income from Capital Gains - Head of Income, Income Tax Laws in
Hindi for Income Tax Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Income from Capital Gains - Head of Income, Income Tax Laws Video Lecture | Income Tax Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Income Tax Laws.
Information about Income from Capital Gains - Head of Income, Income Tax Laws
Here you can find the meaning of Income from Capital Gains - Head of Income, Income Tax Laws defined & explained in the simplest way possible.
Besides explaining types of Income from Capital Gains - Head of Income, Income Tax Laws theory, EduRev gives you an ample number of questions to practice Income from Capital Gains - Head of Income, Income Tax Laws tests,
examples and also practice B Com tests.
|
27 videos|25 docs|12 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Extra Questions
,Sample Paper
,Income from Capital Gains - Head of Income
,Objective type Questions
,Income from Capital Gains - Head of Income
,Important questions
,study material
,past year papers
,Viva Questions
,Previous Year Questions with Solutions
,ppt
,Free
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,practice quizzes
,Exam
,MCQs
,video lectures
,Income from Capital Gains - Head of Income
,Income Tax Laws Video Lecture | Income Tax Laws - B Com
,Semester Notes
,Summary
,shortcuts and tricks
;
Study Income from Capital Gains - Head of Income, Income Tax Laws on the App
Students of B Com can study Income from Capital Gains - Head of Income, Income Tax Laws alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Income from Capital Gains - Head of Income, Income Tax Laws,
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 Income from Capital Gains - Head of Income, Income Tax Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup