Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligibility under Section 87A.
Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrations and FAQs about eligibility, calculations and impacts on special rate incomes.
Learn how recent amendments to Section 112 of the Income Tax Act impact capital gains tax, including indexation rollback and new tax calculation options.
1. Further to the article Capital Gain Tax Exemption on Residential Property: Land Mark Judgment PART A, This article delves into landmark judgments clarifying capital gains tax exemptions and related provisions under the Income Tax Act, 1961. Key rulings include the Mumbai Tribunal’s decision in Abdul Nayab Sheik v. ITO (2024), where it was held […]
Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITAT and High Court cases explained.
Bombay HC grants interim relief allowing taxpayers to claim Section 87A rebate for AY 2024-25. Revised ITR deadline extended to 15 Jan 2025; final ruling pending.
Learn about capital gain exemptions for investing in multiple residential units under Section 54F, with case law insights on eligibility and conditions.
Learn about capital gain tax exemptions on property under redevelopment, including eligibility under Section 54 and implications for sales and possession delays.
ITAT Mumbai remands case on capital gain exemption for two adjoining flats under Section 54F, directing physical verification of flats by the Assessing Officer.
ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of natural justice.
