Income Tax : The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ...
Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple t...
Income Tax : The document provides a detailed summary of the special tax provisions applicable to different securities and classes of taxpayers...
Income Tax : Learn the exemptions available under Sections 54 to 54GB of the Income-tax Act, including eligible investments, timelines, exempti...
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 : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : ITAT held that Section 54F deduction cannot be denied where capital gains are invested in a residential house within the prescribe...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : The ITAT held that a penalty under Section 271AAB cannot survive where the show cause notice fails to specify the exact statutory ...
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...
Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy helps optimize taxes while maintaining long-term investment positions.
A simple guide to the five heads of income under the Income Tax Act, 1961, explaining salary, house property, business income, capital gains and other sources.
Introduction The taxation of capital gains is one of the most significant components of India’s direct tax structure. Whenever a person sells shares, real estate, gold, mutual funds, or even digital assets at a profit, that gain is taxed under the Income Tax Act, 1961. However, the rate and method of taxation depend primarily on […]
ITAT Hyderabad remanded the capital gains issue for verification of demolition expenses under Section 48. The Tribunal directed the AO to examine evidence before allowing indexed cost.
ITAT Lucknow held that additions under Section 68 in search cases cannot be made without incriminating material found during search. Penny stock LTCG additions were deleted and departmental appeals dismissed.
India and France have signed a protocol granting full taxing rights on capital gains from share sales to the country of company residence. The amendment removes the MFN clause and strengthens tax certainty under updated international standards.
Reassessment based solely on investigation inputs about penny stocks was rejected. The Tribunal held that documented transactions through bank and demat accounts sufficiently explained the investment source.
The Tribunal held that the relevant date for Section 54 is possession of the new residential house, not the agreement date. Since possession was taken within two years of sale, exemption was allowed.
Tribunal ruled that once consideration was received and possession handed over in an earlier year, subsequent registration cannot shift taxability. Revenue’s reliance on Insight Portal data was rejected.
The Tribunal ruled that long-term capital gains treated as bogus could not be added in a completed assessment year absent search-based incriminating evidence. Investigation reports alone were held insufficient.
