Deductions and Allowances under the head 'Capital Gains' for the Assessment Year 2018-19 & 2019-20

Section

Nature of Deduction

Who can Claim

UNDER THE HEAD ‘CAPITAL GAINS”

48

Expenditure incurred wholly and exclusively in connection with transfer of capital asset

All assessees

48

Cost of acquisition of capital asset and of any improvement thereto

All assessees

UNDER THE HEAD ‘INCOME FROM OTHER SOURCES”

57(i)

Any reasonable sum paid by way of commission or remuneration for the purpose of realizing dividend/interest on securities

All assessees

57(ii)

Repairs, insurance and depreciation of buildings, plant and machinery and furniture

Assessees engaged in the business of letting out of machinery, plant and furniture on
hire

57(iii)

Any other expenditure (not being capital expenditure) expended wholly and exclusively for earning such income

All assessees