Section - 45

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]

†The words within square brackets will be substituted by the words "53, 54, 54B, 54C and 54D" by Finance Act, 1973, w.e.f. 1-4-1974.

*Inserted by Finance Act, 1972, w.e.f. 1-4-1973.

[As amended by the Finance Act, 1973]

Section 45

Capital gains

Footnotes