Cost indexation while computing capital gain from transfer of assets received as gift etc. By- CA Prakash Hegde and CA Raghavendra N. The Income Tax Act, 1961 (‘the Act’) contains elaborate provisions in relation to taxation of profits or gains arising from ‘transfer’ of a ‘capital asset’.  The relevant provisions for the purpose of our […]

 Additional deduction for interest on housing loan By CA. Prakash Hegde & CA Raghavendra N. Under the provisions of section 24 of the Income Tax Act, 1961 (‘the Act’) a deduction is available for interest payable on the capital borrowed for acquisition or construction or repair or renewal or reconstruction of a house property.  In the […]