Income Tax : The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the com...
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes the distortion of t...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Secti...
Income Tax : India and France have signed a protocol granting full taxing rights on capital gains from share sales to the country of company re...
Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...
Income Tax : Finance Bill 2024 amends Section 55 to include fair market value for unlisted shares in IPOs. Changes apply retroactively from Apr...
Income Tax : The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced ho...
Income Tax : From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific...
Income Tax : The ITAT ruled that the Assessing Officer wrongly adopted the stamp duty valuation despite contrary valuation material on record. ...
Income Tax : Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in...
Income Tax : ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposi...
Income Tax : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
Income Tax : The Tribunal upheld tax addition where agricultural land was acquired below stamp duty valuation and DVO-determined fair market va...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
Income Tax : The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhan...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effectiv...
Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...
Hon’ble Delhi HC has held in the case of ‘Bharti Gupta Ramola Vs. CIT’ that For computing holding period of asset both date on which asset is acquired & date on which said asset is sold or transferred are not to be excluded.
The short dispute arising for consideration in this case relates to the year of assessability of capital gains arising on the property, which was subject matter of a development agreement, i.e. whether it is assessable in the year in which the development agreement was entered
It is observed that the claim of the assessee for long term capital loss arising from sale of shares of was disallowed by the A.O. by treating the relevant transactions of purchase and sale of shares as a colourable device adopted by the assessee with an ultra motive to claim the long term capital loss.
Capital gains from long-term capital asset – Investment in a flat under the self-financing scheme of the Delhi Development Authority – Whether to be treated as construction for the purposes of capital gains Circular : No. 471 [F. No. 207/27/85-IT(A-II)], dated 15-10-1986. 1. Sections 54 and 54F provide that capital gains arising on transfer of […]
The Commissioner of Income Tax (Appeals) so also the learned Tribunal upon perusal of the agreement in question found that the possession as contemplated in Section 53A of the Transfer of Property Act was in fact not handed over by the assessee to the developer.
The provisions contained in clause (14) of section 2 of the Income-tax Act, 1961, before amendment by the Finance Act, 2013 define the term capital asset as property of any kind held by an assessee, whether or not connected with his business or profession.
This is our second video of FAST TRACK – QUICK REVISION of Capital Gain. Our First Video was Fast track quick revision of Profits and gains of business or profession. Aim of this video is revision of Capital Gain in shortest possible time covering 90% of syllabus from examination point of view. However in class we devote almost 20 hours to Capital Gain which we have tried to condensed in 24 minutes approx.
Assessing Officer has held that (a) Carbon Credit is not a capital receipt, (b) cost of acquisition of Carbon Credit is NIL & (c) entire receipt is taxable as capital gain. However, in the computation, it has been added as Business income.
When a partner receives her/his share in the assets of the partnership firm or when he receives anything in excess of her/his share in the assets of the partnership firm and even in a case a partner receives a share of profit either in case of retirement or in case of dissolution, the same cannot be brought to tax
Even a cursory look at the admitted facts of the case would show that the transferee had neither performed nor was it willing to perform its obligation under the agreement in the previous year relevant to assessment year under consideration.
