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What is Section 54?
Section 54 provides an exemption on long-term capital gains from the sale of residential property if the gains are reinvested in another residential property.
Section 54 provides an exemption on long-term capital gains from the sale of residential property if the gains are reinvested in another residential property.
See lessWhat are the tax exemptions available on capital gains from property?
Exemptions are available under Sections 54, 54EC, and 54F for reinvestment in residential property or specified bonds.
Exemptions are available under Sections 54, 54EC, and 54F for reinvestment in residential property or specified bonds.
See lessHow is capital gain from the sale of property taxed?
Capital gain from the sale of property is taxed as short-term or long-term capital gains, depending on the holding period.
Capital gain from the sale of property is taxed as short-term or long-term capital gains, depending on the holding period.
See lessWhat is the standard deduction on rental income?
The standard deduction on rental income is 30% of the annual value.
The standard deduction on rental income is 30% of the annual value.
See lessHow is rental income from property taxed?
Rental income is taxed under the head "Income from House Property" after allowing standard deductions and other permissible deductions.
Rental income is taxed under the head “Income from House Property” after allowing standard deductions and other permissible deductions.
See lessWhat is Section 80TTB?
Section 80TTB provides an exemption of up to Rs. 50,000 on interest income for senior citizens from savings, fixed, and recurring deposits.
Section 80TTB provides an exemption of up to Rs. 50,000 on interest income for senior citizens from savings, fixed, and recurring deposits.
See lessWhat is Section 80TTA?
Section 80TTA provides an exemption of up to Rs. 10,000 on interest income from savings accounts.
Section 80TTA provides an exemption of up to Rs. 10,000 on interest income from savings accounts.
See lessHow is interest income from fixed deposits taxed?
Interest income from fixed deposits is fully taxable at the applicable slab rates.
Interest income from fixed deposits is fully taxable at the applicable slab rates.
See lessWhat is the tax treatment of interest income from savings accounts?
Interest income from savings accounts is taxable, but an exemption up to Rs. 10,000 is available under Section 80TTA.
Interest income from savings accounts is taxable, but an exemption up to Rs. 10,000 is available under Section 80TTA.
See lessHow are dividends taxed in India?
Dividends from domestic companies are taxable in the hands of shareholders at applicable slab rates.
Dividends from domestic companies are taxable in the hands of shareholders at applicable slab rates.
See less