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Form 64I Courts of Justice Act default judgment for sale conditional on proof of claim (action converted from foreclosure to sale) (General heading) (Court seal) judgment reading the statement of
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Form 64I is a tax form used in India for reporting income from the transfer of capital assets, specifically for the purpose of determining long-term and short-term capital gains.
Individuals or entities that have earned income from the transfer of capital assets during a financial year are required to file Form 64I.
Form 64I requires taxpayers to provide details about the capital assets sold, the amount received from sale, the acquisition cost, and any relevant deductions. It should be completed with accurate information as per the guidelines provided by the tax authority.
The purpose of Form 64I is to facilitate the disclosure of capital gains earned by taxpayers, ensuring compliance with tax regulations and proper assessment of tax liabilities on those gains.
Form 64I requires reporting of details such as the type of capital asset, date of acquisition, sale date, sale proceeds, costs of acquisition, and any exemptions or deductions claimed.
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