Capital Gain

Taxation In Case of Stock Market Transactions

Income Tax - Unlock the intricacies of income tax implications for stock market transactions in India, covering capital gains, F&O trading, and tax audit requirements....

Leveraging DTAA to Minimize Capital Gain Taxes for NRIs

Income Tax - Learn how Non-Resident Indians (NRIs) in Germany, Singapore, UAE, Netherlands, and more can reduce capital gain taxes in India using Double Tax Avoidance Agreements (DTAA)....

Understanding Short Term Capital Gain Tax: Rules & Benefits

Income Tax - Learn about short term capital gains tax under Section 111A: rates, exemptions, rebates, and conditions for applicability. Maximize tax benefits on equity investments....

Is agreement to sell is a transfer and liable to Capital Gain Tax?

Income Tax - Explore whether an agreement to sell qualifies as a transfer under Capital Gains Tax according to the Income Tax Act, 1961....

Why Government removed Section 10(38) in Union Budget 2018?

Income Tax - Discover the motives behind the removal of Income Tax Act's Section 10(38) in Union Budget 2018. Uncover tax evasion tactics, loopholes, and the government's response to protect revenue....

Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

Income Tax - Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be raised in the future based on the retrospective amendment made through Finance Act, 2012, for any indirect transfer of Indian assets if the transaction was undertaken before 28th May 2012. 2. Provides that the ...

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

Income Tax - The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act, 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Taxation Laws (Amendment) Bill, 2021 inserted three provisos (Fourth, Fifth, and Sixth Proviso) in Explanation 5 to Section 9(...

4 Major Tax Exemptions to Startups

Income Tax - 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemption on Investments above Fair Market Value, Introduction of Section 54EE in the Income Tax Act, 1961 and Amendment in Section 54GB of the Income-tax Act....

Draft Notification on Tax on Long Term Capital Gain on Shares

Income Tax - Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introduced a new section 112A in the Act, to provide that long term capital gains arising from transfer of a long-term capital asset being an equity share in a company or a unit of an equity oriented fund or a unit o...

Amend Sec. 47(viab) related to indirect transfer of capital asset situated in India

Income Tax - The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment provides clarity on certain contentious aspects with regards to taxation of income arising or accruing from such indirect transfers....

Delhi ITAT on Section 54F Deduction & Section 263 Revisional Powers

Anju Ahuja Vs PCIT (ITAT Delhi) - Delhi ITAT addresses Pr.CIT's revisional order on Section 54F deduction misuse for AY 2017-18 in Anju Ahuja vs PCIT, clarifying legal interpretations....

ITAT: Sale of Shares Capital Gains Not Sham, Deletes Section 69A Additions

Sarika Bindal Vs ITO (ITAT Delhi) - Delhi ITAT's landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights....

Profit Size Doesn’t prove Company Authenticity or Transactions in Penny Stock Cases

Brajesh Narnolia Vs ITO (ITAT Kolkata) - Kolkata ITAT upholds LTCG disallowance in Brajesh Narnolia Vs ITO, emphasizing that a company's genuineness isn't judged by the magnitude of profit....

ITAT disallows cost of improvement incurred by Company for individual’s flat

Arun Tulshidas Kharat Vs DCIT (ITAT Pune) - ITAT Pune rules against a company's claim for improvement costs on an individual’s flat in Arun Tulshidas Kharat Vs DCIT case. Detailed analysis and implications here....

ITAT upholds denial of LTCG exemption on shares of Kappac Pharma Limited

Atmiben Alipitkumar Doshi Vs ITO (ITAT Ahmedabad) - Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers....

NHAI discontinue Section 54EC Capital Gain Bonds issuance w.e.f. 01.04.2022

NHAI/11033/54 EC Bonds/2022 - (31/03/2022) - The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not issue 54 EC Bonds and any other debt instruments/Bonds etc. w.e.f. 01.04.2022. All are requested to please take a note of It and advise all your associates/brokers not to a...

Guidelines under clause (10D) section 10 of Income-tax Act, 1961

Circular No. 2 of 2022-Income Tax - (19/01/2022) - The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provides that, with effect from 01.02.2021, the sum received under a Unit Linked Insurance Policy (ULIP), issued on or after 01.02.2021, shall not be exempt under the said clau...

CBDT Notification on Computation of capital gains, not exempt under Section 10(10D)

Notification No. 8/2022-Income Tax [G.S.R. 24(E)] - (18/01/2022) - CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) of section 45 i.e. Computation of capital gains, not exempt under Section 10(10D). MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, t...

Draft rules for amendments by Taxation Laws (Amendment) Act, 2021

NA - (28/08/2021) - No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012 (i.e., the date on which the Finance Bill, 2012 received th...

Taxation Laws (Amendment) Act, 2021

No. 34 of 2021 - (13/08/2021) - In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— "Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made ...

Recent Posts in "Capital Gain"

Taxation In Case of Stock Market Transactions

Unlock the intricacies of income tax implications for stock market transactions in India, covering capital gains, F&O trading, and tax audit requirements....

Posted Under: Income Tax |

Leveraging DTAA to Minimize Capital Gain Taxes for NRIs

Learn how Non-Resident Indians (NRIs) in Germany, Singapore, UAE, Netherlands, and more can reduce capital gain taxes in India using Double Tax Avoidance Agreements (DTAA)....

Posted Under: Income Tax |

Delhi ITAT on Section 54F Deduction & Section 263 Revisional Powers

Anju Ahuja Vs PCIT (ITAT Delhi)

Delhi ITAT addresses Pr.CIT's revisional order on Section 54F deduction misuse for AY 2017-18 in Anju Ahuja vs PCIT, clarifying legal interpretations....

Understanding Short Term Capital Gain Tax: Rules & Benefits

Learn about short term capital gains tax under Section 111A: rates, exemptions, rebates, and conditions for applicability. Maximize tax benefits on equity investments....

Posted Under: Income Tax |

ITAT: Sale of Shares Capital Gains Not Sham, Deletes Section 69A Additions

Sarika Bindal Vs ITO (ITAT Delhi)

Delhi ITAT's landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights....

Profit Size Doesn’t prove Company Authenticity or Transactions in Penny Stock Cases

Brajesh Narnolia Vs ITO (ITAT Kolkata)

Kolkata ITAT upholds LTCG disallowance in Brajesh Narnolia Vs ITO, emphasizing that a company's genuineness isn't judged by the magnitude of profit....

ITAT disallows cost of improvement incurred by Company for individual’s flat

Arun Tulshidas Kharat Vs DCIT (ITAT Pune)

ITAT Pune rules against a company's claim for improvement costs on an individual’s flat in Arun Tulshidas Kharat Vs DCIT case. Detailed analysis and implications here....

ITAT upholds denial of LTCG exemption on shares of Kappac Pharma Limited

Atmiben Alipitkumar Doshi Vs ITO (ITAT Ahmedabad)

Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers....

SEBI Investigation of broker Alone Insufficient to Label Assessee’s LTCG as Bogus

ITO Vs Indravadan Jain HUF (ITAT Mumbai)

Investigate the Income Tax Appellate Tribunal ruling in ITO vs. Indravadan Jain HUF & its implications for similar cases in the future. Assessing officer's declarations on SEBI Investigation & LTCG of the assessee addressed....

Is agreement to sell is a transfer and liable to Capital Gain Tax?

Explore whether an agreement to sell qualifies as a transfer under Capital Gains Tax according to the Income Tax Act, 1961....

Posted Under: Income Tax |

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