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

This topic has 0 replies, 1 voice, and was last updated 2 years, 11 months ago by taxgrid.

Viewing 0 reply threads

Author

Posts
- May 12, 2021 at 6:47 pm #3369 Reply
  
  taxgrid
  Keymaster
  
  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.
Author

Posts

Viewing 0 reply threads