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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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

Special Care in Capital Gain Tax on Sale of Agricultural Land

March 6, 2023 4743 Views 1 comment Print

Learn the intricacies of capital gains tax on the sale of agricultural land, including conditions for exemptions and vital action points to ensure compliance and minimize tax liabilities.

Prior to 01.04.2020, capital gain exemption u/s 54 was allowed to be claimed without filing return

March 6, 2023 5619 Views 0 comment Print

ITAT Bangalore held that prior to amendment in section 139(1) of the Income Tax Act effective from 01.04.2020, exemption under section 54, 54B, 54D, 54EC, 54F, 54G, 54GA or 54GB can be claimed even without filing income tax return.

Major amendments in Budget 2023 relating to Capital Gains

March 1, 2023 14424 Views 1 comment Print

Learn about the major amendments in Budget 2023 related to Capital Gains, including changes affecting Residential House Property, Gold, and Market Linked Debentures.

Section 50C not applies when immovable property compulsorily acquired by Government

February 26, 2023 3564 Views 0 comment Print

PCIT Vs Durgapur Projects Limited (Calcutta High Court) Whether provisions of Section 50C can be applied when the immovable property is compulsorily acquired by the Government? Whether the definition of transfer u/s 2(47) can be considered for applying Section 50C or only when the transfer involves payment of stamp duty that the provisions of Section […]

Amendments by Finance Act, 2023 related to Tax on Capital gain

February 25, 2023 21753 Views 0 comment Print

Finance Act 2023 redefines capital gains Introduces amendments in Sec 54, 54F, and 45(5A), caps exemptions, and modifies MLD taxation. Embracing clarity and fairness in capital gain taxation.

Taxability of STCG on transfer of Equity Shares/Units of Equity Oriented Mutual Funds for Non-Resident Individuals

February 21, 2023 1659 Views 0 comment Print

Taxability of STCG on Non-Resident Individuals Equity Shares/Units of Equity Oriented Mutual Funds. Basic exemption limit applies to dividend/interest income @ 15%. Income Tax Act, Sec. 111A

Section 54B exemption cannot be Denied for Agricultural Land Purchase in Wife’s Name

February 17, 2023 2178 Views 0 comment Print

ITAT held that deduction under Section 54B/54F of Act is available in cases where investments are made in property purchased in name of wife.

Section 54 Exemption- Allotment Letter date can be treated as Acquisition date

February 16, 2023 2751 Views 0 comment Print

Allotment letter by builder is date of acquisition of property as period of holding for determining whether capital asset is a long-term or a short-term

Capital gain earned on sale of share not taxable in India in terms of India-Singapore DTAA

February 14, 2023 3648 Views 0 comment Print

Delhi High Court held that capital gain earned on sale of shares by non-resident is not taxable in terms of Article 13(4) of India and Singapore (DTAA) based on Tax Residency Certificate. Also held that revenue has to accept Tax Residency Certificate and cannot go behind it.

Capital gain taxable in the hands of legal owner who transferred property by registering sale deed

February 14, 2023 1542 Views 0 comment Print

ITAT Mumbai held that capital gain is to be taxed in the hands of legal owner of the property who has transferred the property by registering sale deed. Merely because interest of housing loan is claimed by the son of the assessee, it doesn’t make him the owner of the property.

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April 2024