Reduce Tax Burden: Understanding the Cost Inflation Index in India
Get a comprehensive understanding of the Cost Inflation Index (CII) in India, and learn how it impacts your capital gains tax liability. Stay updated and save on taxes today!
Tag: Capital Gains
Cost Inflation Index (CII) for FY 2022-23: CBDT Notification 62/2022
The CBDT has announced that the ‘Cost Inflation Index (CII)’ in respect of Financial Year 2022-23 (Assessment Year 2023-24) shall be 331, which has been increased from 317 announced …
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 …
