Cost Inflation Index (CII) for FY 2022-23: CBDT Notification 62/2022
The CBDT has announced that the ‘Cost Inflation Index (CII)‘ for FY 2022-23 (AY 2023-24), which is used for calculating ‘long term capital gains (LTCG)’ under Income Tax, will …
Tag: Capital Gains
New IT Rule 8AD on Computation of Capital Gains from ULIPs u/s 45(1B)
CBDT has notified the Income tax (2nd Amendment) Rules, 2022 to insert new IT Rule 8AD on ‘Computation of Capital Gains from ULIPs u/s 45(1B)‘, in respect of insurance policy receipts on …
Section 54 Tax Benefit Extended to Purchase/ Construction of 2 Houses
The restriction of investment in one residential house only for claiming capital gains exemption under Section 54 of the Income Tax Act, 1961 has been partially relieved by the …