In which case capital gain will arise even without transfer of asset?

taxgrid In which case capital gain will arise even without transfer of asset?2021-05-12T18:47:43+05:30 capital gains, capital gains on insurance claim, income tax, section 45(1a), and tax on insurance claim

Tagged: capital gains, capital gains on insurance claim, income tax, section 45(1a), tax on insurance claim

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- May 12, 2021 at 6:47 pm #3369 Reply
  
  taxgrid
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  As per section 45(1A), in the cases where profits or gains arises from insurance claims resulting due to damage or destruction of property, there will be capital gains liability. This liability arises, even if no asset has been transferred as such.
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