- Sunday, November 1, 2009, 9:20
- Income Tax Case Laws
- 52 views
Where fair market value of the capital asset under transfer is less than the valuation as per SVA and such valuation as per SVA becomes final under Stamp Duty Act then the assessee is left with no choice and has to pay tax on the notional sale consideration on the valuation as per SVA.
Full Article
- Friday, July 17, 2009, 16:50
- Income Tax
- 9 views
Under the existing provisions, in a nutshell, gifts received by individuals and HUFs, only as sum of money from non relatives in excess of Rs.50000/- per annum are taxable. Gifts on the occasion of marriage or under a will are also outside the tax net. Gifts in kind are also not taxable. Now the gifts in kinds are being made taxable in the hands of recipients. Cases of deemed gifts due to inadequate considerations are also being brought in the tax net.
Full Article
- Thursday, July 9, 2009, 17:22
- Income Tax
- 86 views
The existing provisions of section 50C provide that where the consideration received or accruing as a result of the transfer of a capital asset, being land or building or both, is less than the value adopted or assessed by a stamp valuation authority, the value so adopted or assessed is deemed to be the full [...]
Full Article