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Report No. 12

E-Capital gains

45. Capital gains.-

Any profits or gains arising from the sale, exchange, relinquishment or transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 55 and 56 [12B(4)] be chargeable to income-tax under the head 'Capital gains'.

[Section 12B(1), main para., earlier part]

Income-Tax Act, 1922 Back

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