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Your A-to-Z ready-reckoner for saving tax on your capital gains.
Capital gains is one of the five heads of income chargeable to tax. This book shows how you can save tax on your capital gains through an analysis of both the various relevant tax provisions and all the exemptions and deductions you can avail of:
What is a capital asset
What constitutes "transfer" of a capital asset: transactions not constituting transfer of capital assets
Distinction between long-term and short-term capital gains: a very important point since very few exemptions are available in the case of the latter
Deductions you can make in relation to the Cost Inflation Index
Special deductions available on the transfer of a residential house
How to benefit from carry-forward or set-off of capital loss
When is agricultural land a capital asset - and when it is not
Computation of capital gain for a depreciable asset
Capital gains exemption on personal effects
Year of taxability of capital gains of different assets.
Plus, all else you need to know for fool-proof tax planning of your capital gains. And, all of it at your fingertips in an instant-reference A-to-Z format.
About the Author :-
Ram Niwas Lakhotia is a well-known authority on taxation in the country. He is a regular writer and editor of numerous bestselling books, which have seen over 500 editions so far. He also writes regularly for leading newspapers. R.N. Lakhotia had a brilliant academic career. He stood First Class First in both the Degree and Post-Graduate Examinations in Commerce. He joined the Indian Revenue Service and stood first in the whole of India in the I.T.Os. Examination.
As the founder Chairman of Rajasthani Academy, New Delhi he is active in social service and cultural activities. Every year he awards "Lakhotia Puraskar" of Rs. 1 lakh, declared by the Central Government as a National Award for the best writer in Rajasthani language. He is past District Governor of Lions Clubs International. As the President of Vegetarian Congress of Delhi he is spreading Vegetarianism for Health and Happiness. He is Trustee of several Charitable Trusts. He has addressed over 5,000 seminars and lecture meetings in India and abroad. He conducted the very popular "Tax Doctor" show on Zee Business.
Subhash Lakhotia is one of India's top tax and investment consultant. Director of R. N. Lakhotia and Associates LLP and Director of Lakhotia College of Taxation and Management, he regularly writes in various national dailies. He conducts the popular course known as "Zero to Hero in Direct Taxes."
Subhash Lakhotia conducts the popular TV show "Tax Guru" on CNBC Awaaz channel which has completed more than 500 episodes and was awarded the National Television Award, 2010 for the "Best Business Talk Show of the Year."
Subhash Lakhotia was selected as the best youth of India by the Lions International to represent India at the World Youth Congress held at Atlantic City, USA in 1970. He is Secretary General of Investors Club and President of Spiritual Clubs International and Unite to Invest (UTI). He is Chief Strategist of Real Estate Strategy Group and is actively associated with various professsional bodies connected with real estate. He has written books on income-tax, investment and real estate and spirituality. He is actively associated with Lions Clubs International. He has been awarded the "Sahityashree" award and "The Suryadatta National Award, 2010". In the year 2014 Subhash Lakhotia was awarded the "Ambassador of Goodwill" award by The International Association of Lions Clubs, USA. He has instituted "Subhash Lakhotia Shrawan Kumar Puraskar" and "Subhash Lakhotia Sewa Puraskar" each of Rs. 1 lakh per annum.