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  INCOME TAX II SYLLABUS FOR EVEN 2025

  INCOME FROM CAPITAL GAIN- BASIC CONCEPTS 1. Meaning of Capital Gain In simple terms, a  Capital Gain  is the profit earned from the sale of an asset (investment or real estate). It is the difference between the selling price of the asset and its original purchase price. Under the Income Tax Act, any profits or gains arising from the  transfer  of a  capital asset  effected in the previous year shall be chargeable to income tax under the head "Capital Gains." If the asset is sold at a loss (selling price is lower than the purchase price), it is termed a Capital Loss. 2. Meaning of Gain While "Capital Gain" is the legal head of income, the specific word  "Gain"  refers to the monetary benefit derived from a transaction. If the result is positive, it is a Gain. If negative, it is a Loss. For tax purposes, "Gain" represents the taxable portion of the profit after allowing for indexation (inflation adjustment) where applicable. 3. ...

                                            FORMAT OF COMPUTING CAPITAL GAINS FORMATOF COMPUTING SHORT TERM CAPITAL GAINS   RS. SALE CONSIDERATION XXXX LESS: EXPENSES ON SALE XXXX NET SALE CONSIDERATION XXXX LESS:   i)Cost of Acquisition (XXXX) ii)Cost of Improvement (XXXX) CAPITAL GAIN XXXX LESS:   i)Exemption u/s 54 B (XXXX) ii) Exemption u/s 54 D (XXXX) TAXABLE SHORT TERM CAPITAL GAIN XXXX     FORMATOF COMPUTING LONG TERM CAPITAL GAINS   RS. SALE CONSIDERATION XXXX LESS: EXP...