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Income Tax - Highlights / Catch Notes

Home Highlights April 2013 Year 2013 This

Sale of shares - Business income v/s Long Term Capital Gain - ...

Income Tax

April 30, 2013

Sale of shares - Business income v/s Long Term Capital Gain - it is relevant to see the intention of the assessee at the time of making of investment - AT

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  1. Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

  2. Gain on sale of shares - accommodation entry or not - the income in question is a bonafide Long Term Capital Gain arising from the sale of shares and hence exempt from income tax

  3. Sale of shares - long term capital gains or short term - Whether purchase of the shares can be considered only on the date of dematerialization – AT

  4. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  5. MAT - Long term capital gain from sale of shares to be shown to the book profits u/s 115JB - AT

  6. Surplus of shares transactions - long term capital gains or business profits - mere volume of transactions transacted by the assessee would not alter the nature of...

  7. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  8. Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

  9. Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

  10. Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

 

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