CAPITAL GAINSDr CMA T K SRIDHAR

TaxableEvent [CG]

Capital Asset

Transfer

In PYP/G

Notu/s 54

NotCap. Ass

Stock

Personal Effect

Rural Agri-Land

Gold Bonds 1999

Rural Land

10k – Pop +Notified -

Govt

Not PEJewellery, Painting,

Archaeological

Immovable

PEFurniture , car, TW,

Pooja Items & Movable

SaleExtinguish - Right

Compulsory AcquisitionConvert [Stock Cap.

Ass]Transfer of Property

Act , 82Allotment – Building

0 Coupon Bond

Redemption of PSC

Reduction of Share FV

Transfer

2(47)

CG[L]

LTCG[36m+]s.2(29B)

Depre. Non-dep

STCG36m-

s.2(42BA)

12m+/-E/PSC Q/U

Sec. BSE/NSE

Units

0 coupon bond

STCG/L LTCG/LConsideration

×××

Consideration

×××

- Cost of Trans

×××

- Cost of Trans ×××

- Cost of Acq ×××

- Ind Cost of Acq

×××

- Cost of Imp. ×××

- Ind Cost of Imp

×××

×××

×××

- 54B, AD, G

×××

-54 ×××

G/L ×××

×××

S.48

IndexationInd. COA = COA×CII of [yr of

Transfer] / CII of WEL [yr of acq. or 1.4.81]

Ind. COI = COI×CII of [yr of Transfer] / CII of yr of Imp.

No Deduction – STTCOI before 1.4.81 – NAInd NA= Bonds / Debenture

NO INDEXATION

Share + Deb [FE]

Bond/ Deb [Not Govt]

Slump – Sale

[s.50B]Dep. Ass

TRANSFER115AB

115ACA – GDR115AD – FIIs

COA [s.55]COA = [I.4.81-] = WEH [Cost or FMV in

1981]

COA = [1.4.81+] = Cost

Liquidation = FMV on Distribution

Share – ref: after

COA [s. 55] - SHARE

Primary market = Allotment Price

Secondary Market = Price + Brokerage

Bonus Share = 0 [FMV if 1981-]Right Share [original] = Price

Renounce = 0Right Share [other] = Price [Share

+ Right} ESOP = FMV on allotment date

COI

COI = [1981-] = NA

COI = [1981+] = Taken + Indexation [Imp]

Deemed COA = COA of POHUF

Partition

Gift / Will

InheritDist. -

Liq.

HC ↔ SC

Merger

S. 47

Insurance Claim

[S.45(1A)]Natural

Calamity Riot

Enemy Action

Fire

SC = ClaimPeriod = DOA – DODestructionIndexation – Yes [Upto DOD]Taxable – On receipt of claim

CA → Stock [S.45(2)]

CG = FMV on Conver. –

Ind/COA/Imp

+

PGBP = SC – FMV

+

Applicable = 1.4.84+

DEMAT [S.45(2A)]

COA POH FIFO

Partner → Firm [S.45(3)]

BV I/COA CG

Firm → Partner [S.45(4)]

FMV I/COA CG

Comp. Acq. [S.45(5)]

≈S.45(1A)

CG = Enhan. Comp. – L. Exp

CG [Red. Comp] = Recompute

Liq. of Comp. → SH [S.46]Not S.47

CG of SH = (Cash + FMV [div-]) – COA

Period = Upto Liq.

CG (Sale of Asset) = SC - FMV

Buy-back Share [S.46A]

CG BBC COA

Slump Sale [S.50B]Sale for Lump-sum Consideration

CG = SC – Net Worth [by CA]

No Indexation

LTCG = 36m+

COA = 0 if S.35AD

Adv. Money FF [S.51]

Adv.

FF

Assessee

COA =

([COA/FMV

/ WDV] – Adv.

FF, 0)

Indexation Applicable

Ref to VO by AO [S.55A]For FMV

Value + VO claimed < FMV+

Estimate – VO (+15% or 25k) < FMV+

AO’s Opinion

NRI [S.115A]

FC HCNSC ××

× «ATT

×××

- COA ××× «AT

T

×××

CG ×××

»BTT

×××

STCG [S.111A]

ESC + Units + Equity MF 65%Recognised St. Exchange

STTAfter 1.10.2004

No Deduction [VI-A]Taxable Limit

LTCG [S.10(38)] - exempt

Exempt – Comp. Acq – Agri Land [S. 10 (37)]

I+HUF

Used – Agri – 2 yrs [parents]

Consideration [C. Govt / RBI]

After 1.4.04

0 coupon bond

Infra Bond [after 1.6.05] [S.2(48)]

LTCG [S12-]

S.112

Reverse Mortgage [S.10.(43)]

Senior Citizen

Lump-sum / installment [60%]

Revalue [once in 5 yrs]

Heir = Sale - Loan

S 54 54B 54D 54EC 54F 54G 54GA

Asset-H

R-HP Agri-Land

LB-indus

Any Any -[R-HP]

PM/LB Indus [Urban]

I+HUF I I+HUF

LT LT/ST LT/ST LT LT LT/ST LT/ST

2 yrs used

2 yrs used

Asset-P

RECL/NHWA

R-HP Rural SEZ

P [1-2]

C [1-3]

2 3 6m P [1-2]

C [1-3]

1-3 1-3

Deposit

NA

Exempt

Propor

Revoke

3 3 3 3 3+[2/3]

3 3

ST St ST LT LT ST ST

DEDUCTIONS