Capital Gains Tax Filing

Capital gains arise from the sale of a capital asset like property, shares, or mutual funds. Understanding short-term and long-term capital gains, indexation benefits, and various exemptions is crucial for accurate tax filing. Our experts help you optimize your capital gains tax liability.

Capital Gains Calculator

Key Aspects of Capital Gains

  • Short-Term Capital Gains (STCG): Arises from assets held for a short period (e.g., shares held for less than 12 months, property less than 24 or 36 months). Taxed at regular slab rates or special rates (e.g., 15% for listed equity).
  • Long-Term Capital Gains (LTCG): Arises from assets held for a longer period. Often receives preferential tax treatment and indexation benefits (adjusting purchase price for inflation).
  • Indexation Benefit: Allows you to adjust the cost of acquisition of an asset for inflation, reducing your taxable long-term capital gains. Applicable to certain assets like property and debt mutual funds.
  • Exemptions under Sections 54, 54F, 54EC: Various sections provide exemptions if capital gains are reinvested in specified assets like new residential property, certain bonds, etc.
  • Reporting in ITR: Capital gains must be accurately reported in the appropriate Income Tax Return (ITR) form, usually ITR-2 or ITR-3, depending on other income sources.

Director Removal Process

Removing a director requires board resolution, resignation letter (if applicable), and filing DIR-12 with MCA. The process must comply with company law and ensure minimum director requirements are maintained.

Reasons for Removal

Resignation

Director voluntarily resigns from the board position.

Retirement

Director reaches retirement age or completes tenure.

Removal by Board

Board removes director due to non-performance or other reasons.

Process Steps

  • Obtain resignation letter (if applicable)
  • Pass board resolution for removal
  • Ensure minimum director requirement
  • File DIR-12 with MCA
  • Update company records

Documents Required

  • Board resolution for removal
  • Resignation letter from director
  • DIN of director being removed
  • Digital signature certificate

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