Capital Gains Sec 45 To 55a
Capital Gains Sec 45 To 55a
Sec. 45 to 55A
Conditions
Stock in trade
Personal effects (meaning movable
property including wearing apparel and
furniture)
Rural Agricultural land in India;
6 ½ % Gold Bonds, 1977
7% Gold Bonds 1980
National Defence Gold Bonds, 1980
Special Bearer Bonds, 1991
Gold Deposit Bonds, 1999
SEC. 2(14)
Cont..
Capital Asset includes :
1. Property of any kind whether or not connected
with business or profession;
2. Investment in any securities held by a Foreign
Institutional Investor.
Jewellery held for personal use either for the
assessee or for the family members dependent on
the assessee,
Archaeological collections,
drawings,
paintings,
sculptures
Any work of art,
SEC.2(47) – TRANSFER
However, in some of the cases like bonds/debentures except Capital Indexed Bonds
issued by Govt., Shares / Debentures of Indian Company acquired by using convertible
forex, depreciable assets, slump sale, 80CCB Units, etc., benefit of indexation is not
available to LTCG.
COST INFLATION INDEX
FY CII FY CII FY CII
1981-82 100 1991-92 199 2001-02 426
1982-83 109 1992-93 223 2002-03 447
1983-84 116 1993-94 244 2003-04 463
1984-85 125 1994-95 259 2004-05 480
1985-86 133 1995-96 281 2005-06 497
1986-87 140 1996-97 305 2006-07 519
1987-88 150 1997-98 331 2007-08 551
1988-89 161 1998-99 351 2008-09 582
1989-90 172 1999-00 389 2009-10 632
1990-91 182 2000-01 406 2010-11 711
2011-12 785 2012-13 852 2013-14 939
2014-15 1024 2015-16 1081 2016-17 1125
EXEMPTIONS
54 54B 54F 54EC
New asset to be w.e.f. 1.4.15, Agricultural land w.e.f. 1.4.15, Notified Bonds
acquired one residential one residential such as NHAI
house property house property and RECL.
in India in India.
7. Loom hours
EXEMPTION U/S.10(36)
LTCG on transfer of equity shares:
Condition :
1. Asset should be a LTCA;
2. Asset should be eligible Equity
Share in a company acquired between
1.3.03 and 29.3.04
3. It is listed in a recognised stock
exchange.
3. Sale should be through Recognised
Stock Exchange in India.
EXEMPTION U/S.10(38)
LTCG on transfer of Securities :
Condition :
1. The transaction should be held on or
after 01.10.04;
2. Securities Transaction Tax should
have been paid on the transaction;
3. Asset transferred should be a LTCA
4. Asset should be equity share in a
company or a unit of an Equity
Oriented Fund