Taxmann’s Taxation of Loans Gifts & Cash Credits As Amended by Finance Act 2021 – 10th Edition April 2021.

Taxmann’s Taxation of Loans, Gifts & Cash Credits provides a ready referencer along-with FAQs on the taxability arising from the following:

• Undisclosed Income – Covering all aspects and complexity involved under Section 68 to Section 69D
• Donee-Based Taxation of Gifts of Money Received by any Person (Taxation of Gifts of Money)
• Taxation of Gifts of Immovable Property Received by any Person
• Taxation of Gifts of Movable Property Received by any Person

The Present Publication is the 10^th Edition which incorporates all the changes made by the Finance Act, 2021. The detailed contents of the book are as follows:

• Undisclosed Income – Covering all aspects and complexity involved under Section 68 to Section 69D
  • Scheme of Taxation of Undisclosed Income Covered by Sections 68 to 69D
  • Voluntary Disclosure of Undisclosed Income
  • Detection of Undisclosed Income by Department
  • Cash Credits under Section 68
  • Share Application Money/Share Capital/Share Premium in case of Closely-Held Companies – When Unexplained Cash Credit
  • Share Application Money/Share Capital/Share Premium in case of Widely-Held Companies – When Unexplained Cash Credit
  • Whether Capital Gains from Shares Taxation u/s 68
  • Loans and Deposits – Whether Unexplained Cash Credit?
  • Deposits from Tenants – Whether and When Unexplained Cash Credits
  • Credits in Firm’s Books – When Unexplained Cash Credits
  • Sundry Creditors/Trade Creditors – When Unexplained Cash Credits
  • Unexplained Investments under Section 69
  • Unexplained Investment in Lottery Tickets
  • Additions u/s 69 on the Basis of Stock Statements Submitted to Banks
  • Unexplained Money, Bullion, etc. – Section 69A
  • Amount of Investments etc. not Fully Disclosed in Books – Section 69B
  • Unexplained Expenditure etc. – Section 69C
  • Amount Borrowed or Repaid on Hundi – Section 69D
• Donee-Based Taxation of Gifts of Money Received by any Person (Taxation of Gifts of Money)
  • Donee-Based Taxation of Gifts
  • Taxability of Gifts of Sums of Money Received
  • Receipt of Sums of Money
  • Sum of Money Received without Consideration
  • How to Compute the Limit of Rs. 50,000
  • Tax-Exempt Gifts
  • ‘Any Person or Persons’
• Taxation of Gifts of Immovable Property Received by any Person
  • Immovable Property – Scope of this Term
  • Condition of Taxability of Gifts Received of Immovable Properties
  • Received without Consideration or for a Consideration Less Than Stamp Duty Value
  • Date of Receipt of Immovable Property
  • Valuation of the Immovable Property Received
  • How to Compute the Limit of Rs. 50,000 for Gifts of Immovable Property Received
  • Computation of Capital Gains on Transfer of Immovable Property Taxed as Gift
• Taxation of Gifts of Movable Property Received by any Person
  • ‘Property’ (Other than Immovable Property) (i.e. Movable Property)
  • Conditions for Taxability of Movable Property Received without Consideration or for Consideration Below Fair Market Value
  • Movable Property Received without Consideration/for Consideration less than Fair Market Value
  • Date of Receipt of Shares and Securities, Jewellery, etc.
  • Determination of Fair Market Value
  • Taxation of Shares and Securities Received
  • Valuation of Jewellery
  • Valuation of Artistic Work
  • Valuation of Bullion
  • How to Compute the Limit of Rs. 50,000 for Movable Property Gifts

Details