Enhanced compensation is any additional compensation received over and above the original compensation that was
WHEN ENHANCED COMPENSTATIONS IS PAID BUT IT IS SUBJECT – MATTER OF DISPUTE
When enhanced compensation is paid but is the subject matter of a dispute under income
COMPUTATION OF CAPITAL GAINS IN THE CASE OF COMPULSORY ACQUISTION OF AN ASSET
Computation of capital gains in the case of compulsory acquisition of an asset under income
PROVISIONS APPLICABLE IN THE CASE OF DISSOLUTION OR RECONSTITUTION FROM THE ASSESSMENT YEAR
Section 45(4): This section provides that if a firm is dissolved or reconstituted, and any
TRANSFER OF CAPITAL ASSEST TO A FIRM TO ITS PARTNER
A transfer of a capital asset by a partner to a firm under income tax
COMPUTATION OF CAPITAL GAINS ON TRANSFER OF FIRMS ASSESTS RTO PARTNERS AND VICE VERSA
When a firm transfers an asset to a partner: The fair market value (FMV) of
CONSEQUENCES
Penalties :The Income Tax Department can impose penalties on taxpayers who fail to comply with
CASES WHEN EXCEMPTION IS TAKEN BACK
When the conditions for the exemption are not met For example, if an exemption is
WITHDRAWAL OF EXCEMPTION IS GIVEN BY SECTION 47
Withdrawal of exemption given by section 47 under income tax is a provision that allows
RULE OF SECTION 45(2)
Section 45(2) of the Income Tax Act, 1961 deals with the taxation of capital gains