Income Tax : Analyze the tax implications of share splits and amalgamations in India. Understand capital gains treatment, period of holding, an...
Income Tax : Understand capital gains tax on equity and mutual funds. Learn about short-term and long-term gains, tax rates, exemptions, and st...
Income Tax : Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to inv...
Income Tax : Step-by-step guide to filing ITR-2 online for FY 2023-24, covering salary income, capital gains, and other sources of income. Ensu...
Income Tax : Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions...
Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...
Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...
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...
Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...
Income Tax : The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment prov...
Income Tax : ITAT Delhi rules that Section 50C deeming provisions cannot be applied to leasehold rights in the Shivdeep Tyagi vs ITO case....
Income Tax : Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion pro...
Income Tax : ITAT Bangalore dismisses valuation of bonus shares under Income Tax Act sec. 55(2)(aa)B. Detailed analysis of Zash Traders vs ACIT...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analy...
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...
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...
Income Tax : The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provid...
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...
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...
ITAT Cuttack – Abani Pattanayak Vs ACIT- ITAT ruled that maintenance and electricity charges not in the form of deposits are excluded from property cost for computing LTCG
Discover the rates of income tax for various entities and explore special tax rates applicable to short-term and long-term capital gains. Learn how to calculate the cost of acquisition using the cost inflation index and purchase year.
In the case of Patel Ambalal Haridas – HUF Vs ITO, ITAT Ahmedabad orders re-evaluation of land value under section 50C, pointing to a failure to consider the Jantri value and Valuation Report. The case impacts how land value is assessed for capital gains tax purposes.
Detailed analysis of recent ITAT Mumbai case, Narayan Devarajan Iyengar Vs ITO, where question of taxability of rent for alternative accommodation and hardship allowance was deliberated.
ITAT Delhi held that post amendment by Finance Act, 2012 which is effective from 1st April 2013, the exemption u/s 54B of the Income Tax Act is also available to HUF.
ITAT Ahmedabad in Sureshbhai Ashwinbhai Patel Vs ITO clarified that complete sale consideration from such a property cannot be attributed as capital gain of a single co-owner.
A comprehensive analysis of the ITAT Delhi’s recent ruling in the case of Ballabh Prasad Aggarwal Vs ACIT, involving income tax addition on supposed long-term capital gains from jewellery sale.
ITAT Jaipur reinforces section 54F’s applicability, highlighting the distinction between actual sale consideration and stamp duty value for capital gains exemption, affirming the principle of real consideration over deemed value for investment in new assets.
Capital gains tax is an essential aspect of taxation in India, applicable when you sell certain assets and make a profit. However, there are several legitimate strategies you can employ to save on capital gains tax
Learn how to report Long Term Capital Gain (LTCG) on the sale of land and buildings in ITR 2. Follow the step-by-step procedure, complete with illustrations and screenshots, for a hassle-free filing experience. Understand the new ITR forms, filing dates, and more.
