Home Highlights September 2018 Year 2018 This

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1. Sale of Shares, Units and Securities through Portfolio Management Services(PMS) - taxable under the head capital gains and not under the head income from business or...

2. Computation of short term capital gain - Deduction of Title Perfection Cost - assessee was eligible for deducting such amount while computing short-term capital gains - AT

3. Deduction on account of portfolio management (PMS) fees allocated towards the Short term capital gains on sale of shares u/s 48 - the same not being an expenditure...

4. Computation short term capital gain (STCG) - allocation of Portfolio Management Services (PMS Charges) towards Dividend and interest income - the basis of allocation of...

5. 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...

6. Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

7. Disallowance of business loss - treating the income derived by the assessee from Portfolio Management Services (PMS) transaction as short term capital gain - Merely...

8. Profit on Sale of depreciable assets may be computed as short term capital gain u/s 50, but eligible for exemption u/s 54F if it is a long term asset.

9. Treatment of sale of equity shares under Portfolio management scheme – Business income OR capital gains – Tribunal had erred in holding the transactions to be income...

10. Finance Bill 2020 - Amendment of meaning of short-term capital asset and cost of acquisition in case of segregation of portfolio and allotment of new units etc. - Budget