Disposing of any capital asset (land or a house or even shares) can help you earn profits. These profits are termed capital gains for the purpose of Indian income tax laws. The mechanism for the computation of gains, taxability of such gains, exemptions that can be claimed and the treatment of carrying forward capital losses etc. are quite unique from laws that govern taxability of other incomes. Therefore, here are certain key aspects that need to be kept in mind when you have earned capital gains in a financial year.
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First Published: Mon, July 23 2018. 11:00 IST