Understand capital gains tax on jointly held properties in India. Learn about beneficial ownership, funding patterns, clubbing provisions, and Section 54 exemptions for co-owners.
Learn to extract capital gain details from your AIS for accurate ITR filing. This guide covers accessing the AIS, using the utility, and verifying transaction data.
Deadline for filing Income Tax Returns is fast approaching. Although due date for non-audit taxpayers has been extended to September 15, 2025, it is advisable not to wait, at least for tax payment, until due date of ITR filing.
Understand the new capital gains tax rules for Gold ETFs & MFs effective April 2025. Learn about holding periods, tax rates, and examples.
Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in Vinod Nihalchand Jain case.
Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal challenges and taxpayer implications.
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 […]
