Capital gains
E. Capital gains
Capital gains.
45. (1) Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 53, 54, 54B *[and 54C] be chargable to income-tax under the head "Capital gains", and shall be deemed to be the income of the previous year in which the transfer took place.
(2) to (4) [Omitted by Finance Act, 1966, w.e.f 1-4-1966]
*. Inserted by Finance Act, 1972, w.e.f. 1-4-1973.
[As amended by the Finance Act, 1972]