Income Tax

It is the tax computed @ 15% on book profit plus surcharge and cess as applicable. If the assessee is located in IFSC (International financial services centre), then MAT is applicable @ 9% instead of 15%.

Asset to be transferred: Any long-term capital asset. Asset on which capital gain to be invested: Long-term Specified Asset.

Asset to be transferred: Land & Building, Plant & machinery, any right in land and building used for the purpose of business of an industrial undertaking in urban area.

Asset to be transferred: Residential property (land or house). Usage of derived capital gain to claim exemption: Subscription in equity shares of eligible company.

Asset to be transferred: Land or building forming part of industrial undertaking. Asset on which capital gain to be invested: Land or building forming part of industrial undertaking.

Asset to be transferred: Land & Building, Plant & machinery, any right in land and building used for the purpose of business of an industrial undertaking in urban area.

​​​​​As per Rule 37BB, any person responsible for making payment to a non-resident, shall furnish such information in Form 15CA and Form 15CB​.

Asset to be transferred: Urban agricultural land. Asset on which capital gain to be invested: Agricultural land (Urban or rural).

Asset to be transferred: Land or building or both. Asset on which capital gain to be invested: Long term specified asset.

Asset to be transferred: Any capital asset (other than a residential house property). Asset on which capital gain to be invested: One residential house.