Classification of Capital Assets
For the purpose of taxation, assets are classified into short term and long term assets.
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Income Tax
Computation of Capital Gain
For the purpose of taxation, assets are classified into short term and long term assets.
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Capital Gain exemption: Section 54
Asset to be transferred: Residential house property. Asset on which capital gain to be invested: Residential house property in India
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Limitation Period under Indian Income Tax Act
AY 17-18 or before Within 21 months from end of RAY in which income was first assessable [Applicable for assessment year 2017-18 or before]
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