Taxation of Capital Gains

CONTENTS
Preface to the Twentieth Edition vii
Table of Cases xi
Chapter 1 Framework of Capital Gains Tax 1
Chapter 2 Chargeability of Capital Gains 7
Chapter 3 Types of Capital Assets and Gains 45
Chapter 4 Capital Gain Arises only on Transfer of a Capital Asset 63
Chapter 5 Computation of Capital Gains 119
Chapter 6 Capital Gain in Case of Amount Received from an Insurer on
Account of Damage or Destruction of any Capital Asset 205
Chapter 7 Profits or Gains Arising from Receipt of any Amount under a
Unit Linked Insurance Policy 210
Chapter 8 Capital Gain on Conversion of (A) Capital Asset into Stock-inTrade or (B) Stock-in-Trade into Capital Asset 216
Chapter 9 Capital Gain on Transfer of Capital Asset by a Partner/Member
to a Firm/AOP, etc. and by a Firm, etc., to the Partner/Member 223
Chapter 10 Capital Gain on Transfer by Way of Compulsory Acquisition
of an Asset 254
Chapter 11 Capital Gain on Conversion of (A) Debentures into
Shares/Debentures (B) Preference shares into equity shares 262
Chapter 12 Capital Gains on Distribution of Assets by Companies in
Liquidation 266
Chapter 13 Capital Gain on Assets which have no Cost of Acquisition 271
Chapter 14 Capital Gain on Transfer of Depreciable Assets 280
Chapter 15 Computation of Capital Gain in Cases of Business
Reorganisation 291
Chapter 16 Computation of Capital Gains in Real Estate Transactions 318
Chapter 17 Capital Gain in Case of Development/Collaboration
Agreements 333
Chapter 18 Capital Gain in Case of Transfer of Securities 365
Chapter 19 Capital Gain in Case of Buy Back of Shares 434
xii Contents
Chapter 20 Capital Gain on Transfer of Specified Security or Sweat Equity
Share 438
Chapter 21 Capital Gain on Conversion of a Company to Limited Liability
Partnership 445
Chapter 22 Taxation of Capital Gain on Transfer of Property Received
without Consideration or for Inadequate Consideration, if Sold
Subsequently 450
Chapter 23 Transfer of Securities by Depository 467
Chapter 24 Capital Gain for Non-Residents 469
Chapter 25 Reference to Valuation Officer 490
Chapter 26 Exemption of Capital Gains 497
Chapter 27 Miscellaneous Provisions 592
Chapter 28 Set off or Carry Forward and Set off of Capital Losses 613
Chapter 29 Computation of Tax on Long-term Capital Gains and on Shortterm Capital Gains in Certain Cases 622
Chapter 30 Advance Payment of Tax in Case of Capital Gains 657
Appendix 1 Capital Gains Accounts Scheme, 1988 661
Appendix 2 Rural Agricultural Land 679
Appendix 3 Relevant Circulars and Notifications 711
Appendix 4 Relevant Forms 767
Appendix 5 Recent Judicial Decisions 773