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Capital Gain

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Slump Sales: A Comprehensive Guide to Structuring Deals for Success

Income Tax : Delve into the intricacies of slump sale as per Section 50B of Income Tax Act in India. Learn about its definition, tax implicatio...

April 21, 2024 2409 Views 2 comments Print

Taxation and Social Equity: Balancing the Scales in India

Finance : Explore the interplay between taxation and social equity in India. Learn how progressive tax policies and targeted measures can ad...

April 19, 2024 174 Views 0 comment Print

Taxability of Offshore Indirect Transfer of Capital Assets situated in India by Non-Resident Corporations/Entities

Income Tax : Learn about tax implications of offshore indirect transfers of Indian capital assets by non-resident entities. Explore Vodafone ca...

April 17, 2024 546 Views 0 comment Print

Analysis of the Different Heads of Income

Income Tax : Explore the intricate details of different heads of income, including salaries, and their tax implications. Gain insights into tax...

April 13, 2024 3090 Views 0 comment Print

Exemption under capital Gain: Section 54, 54B, 54D, 54EC, 54F, 54G & 54GA

Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...

April 3, 2024 1944 Views 3 comments Print

Latest News

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 ...

August 13, 2021 1413 Views 0 comment Print

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...

August 11, 2021 1344 Views 0 comment Print

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 Exemp...

December 11, 2019 5835 Views 0 comment Print

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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...

April 24, 2018 12741 Views 0 comment Print

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 prov...

December 28, 2017 4833 Views 0 comment Print

Latest Judiciary

ITAT Delhi Allows Capital Gain Deduction for Additional Land Acquisition Costs

Income Tax : Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compe...

April 21, 2024 345 Views 0 comment Print

Section 148 Notice cannot be issued to Partner for Transactions Among Partnership Firms

Income Tax : Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed inc...

April 3, 2024 462 Views 0 comment Print

Time Limit to Acquire New House for Section 54 Capital Gains Tax Exemption

Income Tax : Delhi ITAT ruled that to claim capital gains benefit under Sec 54, taxpayers must acquire a residential house within three years f...

March 31, 2024 69873 Views 0 comment Print

ITAT allows Expenditure on power of attorney, air tickets, hotel stays against capital gain

Income Tax : In Adil Rehman's case, ITAT Hyderabad allows expenditure on special power of attorney, air tickets, hotel stays, etc., as deductib...

March 24, 2024 11679 Views 0 comment Print

Deemed Short-Term Capital Gains from Depreciable Asset Sale Eligible for Setoff Against Long-Term Capital Loss

Income Tax : Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of dep...

March 21, 2024 363 Views 0 comment Print

Latest Notifications

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

Income Tax : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...

March 31, 2022 29601 Views 0 comment Print

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

Income Tax : The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provid...

January 19, 2022 11928 Views 1 comment Print

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

Income Tax : CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) o...

January 18, 2022 7614 Views 0 comment Print

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

Income Tax : 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, 20...

August 28, 2021 1077 Views 0 comment Print

Taxation Laws (Amendment) Act, 2021

Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...

August 14, 2021 3636 Views 0 comment Print

Taxation of Bonus, splitting and Right issue of Shares

August 9, 2023 36111 Views 3 comments Print

Unveil the intricacies of patent and compulsory licensing in Saudi Arabia. Understand its importance, legal framework, and recent developments.

ITAT Directs AO to Examine Section 54 Exemption Eligibility in year in which capital gain is taxable

August 8, 2023 807 Views 0 comment Print

ITAT Ahmedabad rules deduction under Section 54 of the Income Tax Act not allowable in current year. Orders reexamination for Previous A.Y. Details here.

In absence of Direct Evidence Share Trading Loss cannot be treated as Bogus

August 5, 2023 1473 Views 0 comment Print

Raigarh Jute & Textile Mills Ltd triumphs as ITAT Kolkata rules share trading loss genuine. Detailed analysis reveals weak circumstantial evidence.

Advance forfeited without transfer of capital assets is taxable as ‘Income from Other Sources’

August 5, 2023 1071 Views 0 comment Print

ITAT Mumbai held that as per Section 56(2)(ix) of the Act money received as advance would be treated as income liable to tax in the hands of recipients under the head ‘Income from Other Sources’ provided such advance is forfeited and the negotiations do not resulted in transfer of the capital assets.

A Complete Guide to Taxation of Stock Market Income

August 4, 2023 11361 Views 1 comment Print

In this article, we will explain how to calculate income tax on stock market earnings along with your salary, and what are the rules and exemptions that apply to different types of income from shares. We will also answer some frequently asked questions on this topic.

Capital Gain – All you want to know

August 1, 2023 591256 Views 54 comments Print

Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capital asset or depreciable asset. Capital gain arising on transfer of short-term capital asset or depreciable asset is considered as short-term capital gain, whereas transfer of long-term capital asset gives rise to long-term capital gain.

Capital Gain Tax Exemption – Construction of Property

August 1, 2023 31965 Views 6 comments Print

Section 54 of the Income Tax Act prescribes that an individual selling property can avail of tax exemption if the Capital gain amount is invested in the purchase or construction of residential property.

Income Tax Provisions on Taxability of Capital Gain from Sale of Securities

July 26, 2023 4398 Views 1 comment Print

In this article, we will discuss about the Income Tax provisions relating to both Short-term capital gain (STCG) and Long-term capital gain (LTCG) arising from sale/transfer of securities.

ITAT Bound by Jurisdictional HC Precedent on Inherited Property Indexation Base Year

July 26, 2023 522 Views 0 comment Print

ITAT Chennai dismisses the revenue’s appeal in Easwari Sukanya Krishnan Vs. ITO, upholding the indexation benefit as per the jurisdictional High Court’s binding judicial precedent.

Allowances / Exemptions Under Income Tax Act, 1961

July 25, 2023 426379 Views 40 comments Print

Taxpayers are normally aware of deduction under the Income Tax Act, 1961 for which they are eligible but it is noticed that taxpayers are found unaware of Taxability of Various Allowances and exemptions available to them under different sources of Income i.e. Salary , Business Income, House property other sources etc.

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April 2024